Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by First Affirmative Financial Network

First Affirmative Financial Network lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 19.7% during the first quarter, Holdings Channel reports. The firm owned 2,517 shares of the home improvement retailer’s stock after selling 617 shares during the quarter. First Affirmative Financial Network’s holdings in Lowe’s Companies were worth $587,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Disciplined Investments LLC acquired a new stake in shares of Lowe’s Companies during the first quarter worth about $330,000. Verum Partners LLC increased its position in shares of Lowe’s Companies by 3.2% during the first quarter. Verum Partners LLC now owns 7,357 shares of the home improvement retailer’s stock worth $1,716,000 after purchasing an additional 225 shares in the last quarter. Pitti Group Wealth Management LLC increased its position in shares of Lowe’s Companies by 3.2% during the first quarter. Pitti Group Wealth Management LLC now owns 4,117 shares of the home improvement retailer’s stock worth $960,000 after purchasing an additional 126 shares in the last quarter. Prospect Financial Services LLC increased its position in shares of Lowe’s Companies by 6.1% during the first quarter. Prospect Financial Services LLC now owns 1,802 shares of the home improvement retailer’s stock worth $420,000 after purchasing an additional 103 shares in the last quarter. Finally, Davis Capital Management increased its position in shares of Lowe’s Companies by 8.8% during the first quarter. Davis Capital Management now owns 2,911 shares of the home improvement retailer’s stock worth $679,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LOW. DA Davidson cut their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Robert W. Baird dropped their price target on 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. Mizuho set a $280.00 price target on Lowe’s Companies and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Finally, Citigroup restated a “neutral” rating and issued a $253.00 price target (down previously from $269.00) on shares of Lowe’s Companies in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $271.12.

Lowe’s Companies Trading Down 1.0%

Shares of LOW opened at $225.35 on Friday. Lowe’s Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01. The stock’s 50 day moving average is $223.72 and its two-hundred day moving average is $241.72. The firm has a market capitalization of $126.29 billion, a PE ratio of 18.79, a P/E/G ratio of 1.96 and a beta of 0.92.

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, topping analysts’ consensus estimates of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.06 EPS. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS 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. Investors of record on Wednesday, July 23rd will be issued a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.13%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio is currently 39.77%.

Insider Buying and Selling

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