Global Trust Asset Management LLC Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Global Trust Asset Management LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,349 shares of the home improvement retailer’s stock after selling 314 shares during the quarter. Lowe’s Companies makes up 2.2% of Global Trust Asset Management LLC’s portfolio, making the stock its 8th largest position. Global Trust Asset Management LLC’s holdings in Lowe’s Companies were worth $3,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Gen Wealth Partners Inc boosted its position in Lowe’s Companies by 1.9% during the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock valued at $534,000 after purchasing an additional 40 shares in the last quarter. Cordatus Wealth Management LLC boosted its position in Lowe’s Companies by 0.3% during the fourth quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock valued at $3,705,000 after purchasing an additional 41 shares in the last quarter. O Brien Greene & Co. Inc boosted its position in Lowe’s Companies by 1.5% during the fourth quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock valued at $715,000 after purchasing an additional 42 shares in the last quarter. FFT Wealth Management LLC boosted its position in Lowe’s Companies by 3.1% during the fourth quarter. FFT Wealth Management LLC now owns 1,377 shares of the home improvement retailer’s stock valued at $340,000 after purchasing an additional 42 shares in the last quarter. Finally, First Command Advisory Services Inc. boosted its holdings in Lowe’s Companies by 1.3% in the fourth quarter. First Command Advisory Services Inc. now owns 3,166 shares of the home improvement retailer’s stock worth $781,000 after acquiring an additional 42 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $215.98 on Tuesday. The business’s 50 day moving average price is $223.88 and its 200-day moving average price is $239.26. The firm has a market capitalization of $121.04 billion, a PE ratio of 18.01, a P/E/G ratio of 1.96 and a beta of 0.92. Lowe’s Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.06 earnings per share. As a group, analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.22%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s payout ratio is 39.77%.

Analysts Set New Price Targets

LOW has been the topic of several research analyst reports. DA Davidson dropped their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Wall Street Zen raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Piper Sandler dropped their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Royal Bank of Canada reduced their price objective on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research note on Thursday, May 22nd. Finally, Truist Financial set a $264.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $271.12.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president now owns 31,898 shares in the company, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Lowe’s Companies Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.