Oppenheimer Asset Management Inc. Purchases 9,058 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Oppenheimer Asset Management Inc. increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 6.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 154,922 shares of the home improvement retailer’s stock after buying an additional 9,058 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lowe’s Companies were worth $36,132,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Wood Tarver Financial Group LLC purchased a new stake in Lowe’s Companies in the 4th quarter worth $25,000. Marshall Investment Management LLC purchased a new stake in Lowe’s Companies in the 4th quarter worth $31,000. Caisse Des Depots ET Consignations purchased a new stake in Lowe’s Companies in the 4th quarter worth $33,000. Orion Capital Management LLC purchased a new stake in Lowe’s Companies in the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in Lowe’s Companies in the 1st quarter worth $36,000. Institutional investors own 74.06% of the company’s stock.

Insider Activity

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

Lowe’s Companies Price Performance

Shares of LOW stock opened at $212.40 on Monday. The company has a market capitalization of $119.04 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.01 and a beta of 0.92. The company’s 50-day simple moving average is $223.03 and its two-hundred day simple moving average is $237.56. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the prior year, the firm earned $3.06 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.26%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.11%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America decreased their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Piper Sandler decreased 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. Sanford C. Bernstein set a $266.00 target price on shares of Lowe’s Companies and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird decreased their target price on shares of Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. One research 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’s stock. Based on data from MarketBeat, Lowe’s Companies 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.