Carret Asset Management LLC Sells 49 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Carret Asset Management LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,330 shares of the home improvement retailer’s stock after selling 49 shares during the period. Carret Asset Management LLC’s holdings in Lowe’s Companies were worth $1,710,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wood Tarver Financial Group LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at $25,000. Marshall Investment Management LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at about $31,000. Caisse Des Depots ET Consignations acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at about $33,000. Orion Capital Management LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at about $36,000. Finally, IFS Advisors LLC grew its holdings in shares of Lowe’s Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 60 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Up 0.7%

NYSE LOW opened at $212.40 on Friday. The company’s 50 day moving average is $223.03 and its 200-day moving average is $238.02. Lowe’s Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The firm has a market cap of $119.04 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.99 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the previous year, the firm posted $3.06 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.26%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s payout ratio is 39.77%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LOW shares. JPMorgan Chase & Co. reduced their price objective 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. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 21st. Mizuho reiterated an “outperform” rating and set a $280.00 price objective on shares of Lowe’s Companies in a report on Friday, June 13th. Stifel Nicolaus reduced their price objective on shares of Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. Finally, Truist Financial set a $264.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Insider Activity

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 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 now owns 31,898 shares of the company’s stock, valued at approximately $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 accessible 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.