Cornerstone Wealth Management LLC Raises Position in Lowe’s Companies, Inc. (NYSE:LOW)

Cornerstone Wealth Management LLC raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 22,873 shares of the home improvement retailer’s stock after acquiring an additional 566 shares during the period. Cornerstone Wealth Management LLC’s holdings in Lowe’s Companies were worth $5,335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its position in shares of Lowe’s Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock valued at $6,483,558,000 after purchasing an additional 259,766 shares in the last quarter. Geode Capital Management LLC lifted its position in Lowe’s Companies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock valued at $2,952,341,000 after buying an additional 245,876 shares during the period. Norges Bank bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $1,842,954,000. Northern Trust Corp grew its position in shares of Lowe’s Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after buying an additional 993,833 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Lowe’s Companies by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer’s stock worth $1,242,793,000 after buying an additional 323,371 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

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 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. 0.27% of the stock is currently owned by insiders.

Lowe’s Companies Stock Performance

NYSE LOW opened at $211.91 on Wednesday. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The stock has a 50-day moving average of $223.65 and a 200 day moving average of $239.07. The company has a market capitalization of $118.76 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.04 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter last year, the firm posted $3.06 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities 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 business also recently announced 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 annualized dividend and a yield of 2.27%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.11%.

Analyst Upgrades and Downgrades

Several research firms recently commented on LOW. Piper Sandler dropped their price objective on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company lowered their target price on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut their price target on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus reduced their price objective on Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Tuesday, May 27th. One equities 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.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

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.