Pitti Group Wealth Management LLC Purchases 126 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Pitti Group Wealth Management LLC boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,117 shares of the home improvement retailer’s stock after buying an additional 126 shares during the quarter. Lowe’s Companies makes up about 1.0% of Pitti Group Wealth Management LLC’s holdings, making the stock its 28th largest position. Pitti Group Wealth Management LLC’s holdings in Lowe’s Companies were worth $960,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Lowe’s Companies by 119.7% during the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after purchasing an additional 17,413 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Lowe’s Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after buying an additional 259 shares in the last quarter. Financial Advocates Investment Management boosted its holdings in Lowe’s Companies by 5.8% in the 4th quarter. Financial Advocates Investment Management now owns 4,189 shares of the home improvement retailer’s stock worth $1,034,000 after buying an additional 230 shares during the period. Silver Oak Securities Incorporated grew its stake in Lowe’s Companies by 94.4% in the 4th quarter. Silver Oak Securities Incorporated now owns 5,026 shares of the home improvement retailer’s stock valued at $1,240,000 after buying an additional 2,440 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its stake in Lowe’s Companies by 8.0% in the 4th quarter. GHP Investment Advisors Inc. now owns 1,147 shares of the home improvement retailer’s stock valued at $283,000 after buying an additional 85 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LOW has been the subject of a number of analyst reports. Stifel Nicolaus cut their price target on Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 21st. Finally, Piper Sandler reduced their price objective on shares of 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $271.12.

Lowe’s Companies Trading Down 1.0%

Shares of NYSE LOW opened at $225.35 on Friday. The stock’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 P/E/G ratio of 1.96 and a beta of 0.92. Lowe’s Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01.

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

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, July 23rd. 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%.

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 on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the transaction, the executive vice president now directly owns 31,898 shares of the company’s stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by company 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.