Alliance Wealth Advisors LLC Trims Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Alliance Wealth Advisors LLC lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.6% in the first quarter, Holdings Channel reports. The institutional investor owned 1,064 shares of the home improvement retailer’s stock after selling 100 shares during the quarter. Alliance Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $248,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV grew its holdings in Lowe’s Companies by 2.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock valued at $4,894,000 after buying an additional 501 shares in the last quarter. Aptus Capital Advisors LLC grew its position in shares of Lowe’s Companies by 14.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer’s stock valued at $26,236,000 after purchasing an additional 13,092 shares in the last quarter. World Investment Advisors grew its position in shares of Lowe’s Companies by 11.0% during the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer’s stock valued at $6,498,000 after purchasing an additional 2,615 shares in the last quarter. Great Lakes Advisors LLC grew its position in shares of Lowe’s Companies by 1.5% during the 4th quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer’s stock valued at $116,696,000 after purchasing an additional 7,187 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 1.0%

Shares of Lowe’s Companies stock opened at $225.35 on Friday. The firm has a market capitalization of $126.29 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.96 and a beta of 0.92. The business has a fifty day simple moving average of $223.72 and a two-hundred day simple moving average of $241.72. Lowe’s Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data 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 47.55% and a net margin of 8.19%. The company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same quarter last year, the company earned $3.06 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.13%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio is presently 39.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LOW. KeyCorp raised Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price objective for the company in a report on Friday, April 25th. Truist Financial set a $264.00 target price on Lowe’s Companies and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 target price on Lowe’s Companies and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. 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. Finally, BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. One 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.12.

Insider Activity

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was 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 directly owns 31,898 shares in the company, valued at $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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.