Dimensional Fund Advisors LP lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,510,211 shares of the home improvement retailer’s stock after acquiring an additional 29,440 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Lowe’s Companies were worth $356,793,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in Lowe’s Companies by 3.5% during the 4th quarter. Natixis Advisors LLC now owns 630,956 shares of the home improvement retailer’s stock valued at $152,161,000 after purchasing an additional 21,119 shares during the period. Bridges Investment Management Inc. boosted its stake in Lowe’s Companies by 6.1% in the 4th quarter. Bridges Investment Management Inc. now owns 446,441 shares of the home improvement retailer’s stock worth $107,664,000 after purchasing an additional 25,609 shares during the period. Glenview Trust Co boosted its stake in Lowe’s Companies by 9.0% in the 4th quarter. Glenview Trust Co now owns 207,797 shares of the home improvement retailer’s stock worth $50,112,000 after purchasing an additional 17,225 shares during the period. Kathmere Capital Management LLC boosted its stake in Lowe’s Companies by 133.9% in the 1st quarter. Kathmere Capital Management LLC now owns 9,402 shares of the home improvement retailer’s stock worth $2,222,000 after purchasing an additional 5,383 shares during the period. Finally, LPL Financial LLC grew its holdings in Lowe’s Companies by 2.3% during the 4th quarter. LPL Financial LLC now owns 993,332 shares of the home improvement retailer’s stock valued at $239,552,000 after buying an additional 22,175 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.
Lowe’s Companies Price Performance
NYSE:LOW opened at $203.62 on Wednesday. Lowe’s Companies, Inc. has a 1 year low of $201.88 and a 1 year high of $293.06. The stock’s 50 day simple moving average is $216.19 and its two-hundred day simple moving average is $241.02. The company has a market cap of $114.17 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.58 and a beta of 0.86.
Lowe’s Companies Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 2.5%. Lowe’s Companies’s payout ratio is currently 40.57%.
Insider Activity at Lowe’s Companies
In related news, EVP Janice Dupre sold 14,150 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $221.90, for a total transaction of $3,139,885.00. Following the sale, the executive vice president owned 39,785 shares of the company’s stock, valued at $8,828,291.50. This represents a 26.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Juliette Williams Pryor sold 9,330 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $224.81, for a total transaction of $2,097,477.30. Following the transaction, the executive vice president owned 16,142 shares of the company’s stock, valued at $3,628,883.02. This trade represents a 36.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,980 shares of company stock valued at $5,796,937 over the last 90 days. 0.29% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on LOW shares. KeyCorp reduced their price objective on shares of Lowe’s Companies from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. TD Cowen dropped their target price on shares of Lowe’s Companies from $280.00 to $235.00 and set a “hold” rating for the company in a research report on Thursday, May 21st. JPMorgan Chase & Co. cut their target price on shares of Lowe’s Companies from $325.00 to $279.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Morgan Stanley reduced their price target on shares of Lowe’s Companies from $292.00 to $277.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Finally, Bank of America decreased their price target on shares of Lowe’s Companies from $260.00 to $257.00 and set a “neutral” rating on the stock in a research note on Thursday, May 21st. Twenty-three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.57.
Read Our Latest Analysis on Lowe’s Companies
Lowe’s Companies Profile
Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.
Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.
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