Econ Financial Services Corp Has $1.91 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Econ Financial Services Corp boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 111.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,195 shares of the home improvement retailer’s stock after buying an additional 4,324 shares during the quarter. Econ Financial Services Corp’s holdings in Lowe’s Companies were worth $1,911,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LOW. Norges Bank acquired a new position in Lowe’s Companies during the fourth quarter worth $1,842,954,000. Kovitz Investment Group Partners LLC grew its position in shares of Lowe’s Companies by 350.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock valued at $585,770,000 after purchasing an additional 1,846,315 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Lowe’s Companies by 26,796.0% in the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock worth $386,540,000 after purchasing an additional 1,651,170 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Lowe’s Companies during the 4th quarter worth about $314,435,000. Finally, Northern Trust Corp boosted its stake in Lowe’s Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock valued at $1,745,960,000 after purchasing an additional 993,833 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $220.12 on Wednesday. The stock’s fifty day simple moving average is $222.91 and its 200 day simple moving average is $237.06. The firm has a market cap of $123.36 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 2.07 and a beta of 0.92. 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 announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating the consensus estimate of $2.88 by $0.04. The business 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 49.12% and a net margin of 8.22%. Lowe’s Companies’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 EPS. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm 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 $1.20 dividend. 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 2.18%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s payout ratio is currently 38.11%.

Analyst Upgrades and Downgrades

LOW has been the topic of several recent analyst reports. Stifel Nicolaus dropped their price target on Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Tuesday, May 27th. Mizuho reaffirmed an “outperform” rating and issued a $280.00 price target on shares of Lowe’s Companies in a research report on Friday, June 13th. Citigroup reaffirmed a “neutral” rating and issued a $253.00 price target (down from $269.00) on shares of Lowe’s Companies in a research report on Wednesday, May 14th. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Finally, Wall Street Zen raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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 the business’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 transaction, the executive vice president now owns 31,898 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

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.