Cornerstone Wealth Management LLC Raises Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Cornerstone Wealth Management LLC boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,873 shares of the home improvement retailer’s stock after purchasing an additional 566 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Lowe’s Companies were worth $5,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wood Tarver Financial Group LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth $25,000. Marshall Investment Management LLC bought a new position in Lowe’s Companies in the 4th quarter worth about $31,000. Caisse Des Depots ET Consignations bought a new position in Lowe’s Companies in the 4th quarter worth about $33,000. Orion Capital Management LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $36,000. Finally, IFS Advisors LLC boosted its position in shares of Lowe’s Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 60 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $211.91 on Wednesday. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The business’s 50 day simple moving average is $223.65 and its two-hundred day simple moving average is $239.07. The stock has a market capitalization of $118.76 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 2.04 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. During the same quarter last year, the business earned $3.06 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.27%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.11%.

Insider Activity at Lowe’s Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm’s 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 completion of the sale, the executive vice president now owns 31,898 shares of the company’s stock, valued at $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Robert W. Baird cut their price target on shares of Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Mizuho reissued an “outperform” rating and issued a $280.00 price target on shares of Lowe’s Companies in a report on Friday, June 13th. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe’s Companies and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company cut their target price on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $271.12.

Lowe’s Companies Company 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.