Robertson Stephens Wealth Management LLC Lowers Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Robertson Stephens Wealth Management LLC decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 12.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,244 shares of the home improvement retailer’s stock after selling 329 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Lowe’s Companies were worth $523,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Berkshire Bank raised its stake in Lowe’s Companies by 2.8% in the first quarter. Berkshire Bank now owns 2,949 shares of the home improvement retailer’s stock worth $688,000 after buying an additional 80 shares in the last quarter. Lynch & Associates IN raised its stake in Lowe’s Companies by 1.1% in the first quarter. Lynch & Associates IN now owns 25,257 shares of the home improvement retailer’s stock worth $5,891,000 after buying an additional 285 shares in the last quarter. Chicago Capital LLC raised its stake in Lowe’s Companies by 0.3% in the first quarter. Chicago Capital LLC now owns 153,001 shares of the home improvement retailer’s stock worth $35,685,000 after buying an additional 428 shares in the last quarter. Smith Shellnut Wilson LLC ADV raised its stake in Lowe’s Companies by 0.6% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 13,276 shares of the home improvement retailer’s stock worth $3,096,000 after buying an additional 74 shares in the last quarter. Finally, Inscription Capital LLC bought a new position in Lowe’s Companies in the first quarter worth approximately $561,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW opened at $210.72 on Thursday. The business’s 50-day moving average is $223.40 and its two-hundred day moving average is $238.87. The company has a market capitalization of $118.10 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.00 and a beta of 0.92. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01.

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

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.11%.

Insiders Place Their Bets

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president now directly owns 31,898 shares of the company’s stock, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Piper Sandler reduced their price objective on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe’s Companies and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. KeyCorp raised shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price objective for the company in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. reduced their price target on 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $271.12.

About Lowe’s Companies

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.