Econ Financial Services Corp Has $1.91 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Econ Financial Services Corp increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 111.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,195 shares of the home improvement retailer’s stock after acquiring an additional 4,324 shares during the quarter. Econ Financial Services Corp’s holdings in Lowe’s Companies were worth $1,911,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. FMR LLC lifted its stake 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 acquiring an additional 259,766 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 acquiring an additional 245,876 shares during the period. Norges Bank acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at $1,842,954,000. Northern Trust Corp lifted its stake in shares of Lowe’s Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock valued at $1,745,960,000 after acquiring an additional 993,833 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Lowe’s Companies by 6.9% during the fourth 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 valued at $1,242,793,000 after acquiring an additional 323,371 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

NYSE LOW opened at $220.12 on Wednesday. The firm has a market cap of $123.36 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.07 and a beta of 0.92. The stock’s 50-day moving average is $222.91 and its 200-day moving average is $237.06. 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, topping analysts’ consensus estimates 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 negative return on equity of 49.12% and a net margin of 8.22%. Lowe’s Companies’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.06 earnings per share. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.11%.

Wall Street Analysts Forecast Growth

LOW has been the topic of several research reports. Bank of America cut their price target on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. KeyCorp upgraded 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. Wells Fargo & Company dropped their price objective on 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 upgraded Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Finally, Morgan Stanley dropped their price objective on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the 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 transaction, the executive vice president now directly owns 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. 0.27% of the stock is owned by corporate insiders.

Lowe’s Companies Company 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.