Ascent Wealth Partners LLC Increases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Ascent Wealth Partners LLC increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,479 shares of the home improvement retailer’s stock after buying an additional 59 shares during the quarter. Ascent Wealth Partners LLC’s holdings in Lowe’s Companies were worth $1,278,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Lowe’s Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after purchasing an additional 17,413 shares during the period. Revolve Wealth Partners LLC raised its position in Lowe’s Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after purchasing an additional 259 shares during the period. Proficio Capital Partners LLC raised its position in Lowe’s Companies by 72.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,429 shares of the home improvement retailer’s stock valued at $846,000 after purchasing an additional 1,444 shares during the period. Parallel Advisors LLC raised its position in Lowe’s Companies by 2.2% in the fourth quarter. Parallel Advisors LLC now owns 8,606 shares of the home improvement retailer’s stock valued at $2,124,000 after purchasing an additional 184 shares during the period. Finally, Horizon Investments LLC raised its position in Lowe’s Companies by 1.9% in the fourth quarter. Horizon Investments LLC now owns 10,321 shares of the home improvement retailer’s stock valued at $2,536,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.7%

Shares of NYSE LOW opened at $216.56 on Thursday. The stock has a market cap of $121.37 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. Lowe’s Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The business has a 50-day moving average price of $223.79 and a 200 day moving average price of $233.60.

Lowe’s Companies (NYSE:LOW) last announced its 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. The firm had revenue of $20.93 billion during the quarter, compared to analysts’ expectations of $21.09 billion. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.06 EPS. Sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a boost 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 2.22%. Lowe’s Companies’s dividend payout ratio is 38.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Robert W. Baird dropped their price objective on Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 21st. Piper Sandler dropped their price objective on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. 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 research note on Friday, April 25th. Finally, Royal Bank Of Canada dropped their price objective on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research note on Thursday, May 22nd. One research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Insider Activity

In other Lowe’s Companies 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 transaction of $257,075.00. Following the completion of the sale, the executive vice president directly owned 31,898 shares of the company’s stock, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

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.