LMG Wealth Partners LLC Sells 137 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

LMG Wealth Partners LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,054 shares of the home improvement retailer’s stock after selling 137 shares during the period. Lowe’s Companies accounts for 1.3% of LMG Wealth Partners LLC’s holdings, making the stock its 29th biggest holding. LMG Wealth Partners LLC’s holdings in Lowe’s Companies were worth $5,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LOW. Wood Tarver Financial Group LLC bought a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC purchased a new stake in Lowe’s Companies during the first quarter valued at approximately $32,000. Caisse Des Depots ET Consignations purchased a new stake in Lowe’s Companies during the fourth quarter valued at approximately $33,000. Orion Capital Management LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in Lowe’s Companies during the first quarter valued at approximately $36,000. 74.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm’s stock in a transaction 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 sale, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LOW. Wall Street Zen raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. DA Davidson decreased their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price target on shares of Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Citigroup reaffirmed a “neutral” rating and issued a $253.00 price target (down previously from $269.00) on shares of Lowe’s Companies in a report on Wednesday, May 14th. Finally, Mizuho reaffirmed an “outperform” rating and issued a $280.00 price target on shares of Lowe’s Companies in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $271.12.

Lowe’s Companies Stock Performance

LOW stock opened at $215.18 on Wednesday. The firm has a market cap of $120.60 billion, a PE ratio of 17.83, a P/E/G ratio of 2.10 and a beta of 0.90. The firm’s fifty day moving average is $223.93 and its 200 day moving average is $233.72. 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 released 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 company had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $3.06 earnings per share. Research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, July 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.11%.

Lowe’s Companies 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.