Princeton Global Asset Management LLC Sells 233 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Princeton Global Asset Management LLC decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 7.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,951 shares of the home improvement retailer’s stock after selling 233 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Lowe’s Companies were worth $688,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of LOW. Wood Tarver Financial Group LLC bought a new position in Lowe’s Companies during the 4th quarter valued at approximately $25,000. Marshall Investment Management LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $31,000. Caisse Des Depots ET Consignations bought a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $33,000. Orion Capital Management LLC bought a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $36,000. Finally, IFS Advisors LLC lifted its stake in Lowe’s Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 60 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $225.35 on Friday. Lowe’s Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The firm’s 50-day moving average is $223.72 and its 200 day moving average is $241.72. The stock has a market cap of $126.29 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.96 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $20.93 billion during the quarter, compared to analysts’ expectations of $21.09 billion. During the same period in the previous year, the company earned $3.06 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed 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 is Wednesday, July 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.13%. Lowe’s Companies’s dividend payout ratio is 39.77%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Piper Sandler reduced their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Citigroup reissued a “neutral” rating and issued a $253.00 price target (down from $269.00) on shares of Lowe’s Companies in a research note on Wednesday, May 14th. DA Davidson cut their price objective 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. Finally, Wells Fargo & Company reduced their target price on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $271.12.

Insider Activity at Lowe’s Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value 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 approximately $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by 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.