Meriwether Wealth & Planning LLC Reduces Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Meriwether Wealth & Planning LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 10.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,602 shares of the home improvement retailer’s stock after selling 416 shares during the quarter. Meriwether Wealth & Planning LLC’s holdings in Lowe’s Companies were worth $840,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LOW. Brighton Jones LLC lifted its holdings in Lowe’s Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after buying an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Lowe’s Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after acquiring an additional 259 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter worth about $55,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in Lowe’s Companies by 10.4% in the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,258 shares of the home improvement retailer’s stock valued at $804,000 after purchasing an additional 306 shares during the last quarter. Finally, Alberta Investment Management Corp boosted its holdings in Lowe’s Companies by 24.1% in the fourth quarter. Alberta Investment Management Corp now owns 3,600 shares of the home improvement retailer’s stock valued at $888,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president now owns 31,898 shares in the company, valued at $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Down 0.6%

Shares of NYSE:LOW opened at $210.72 on Friday. The company’s 50-day moving average price is $223.18 and its 200 day moving average price is $238.45. The company has a market cap of $118.10 billion, a PE ratio of 17.46, a P/E/G ratio of 1.99 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 released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. During the same quarter in the previous year, the company posted $3.06 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.28%. Lowe’s Companies’s dividend payout ratio is presently 38.11%.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of recent analyst reports. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 21st. Bank of America decreased their price objective on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Royal Bank Of Canada dropped their target price on shares of Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research report on Thursday, May 22nd. Finally, Truist Financial set a $264.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Thursday, May 22nd. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.