Bartlett & CO. Wealth Management LLC Sells 12,025 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Bartlett & CO. Wealth Management LLC lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the first quarter, HoldingsChannel reports. The firm owned 532,839 shares of the home improvement retailer’s stock after selling 12,025 shares during the period. Lowe’s Companies makes up 1.8% of Bartlett & CO. Wealth Management LLC’s portfolio, making the stock its 13th largest position. Bartlett & CO. Wealth Management LLC’s holdings in Lowe’s Companies were worth $124,274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Gen Wealth Partners Inc lifted its position in Lowe’s Companies by 1.9% during the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock worth $534,000 after acquiring an additional 40 shares during the last quarter. First Command Advisory Services Inc. boosted its position in shares of Lowe’s Companies by 1.3% in the fourth quarter. First Command Advisory Services Inc. now owns 3,166 shares of the home improvement retailer’s stock valued at $781,000 after acquiring an additional 42 shares during the period. Peachtree Investment Partners LLC boosted its position in shares of Lowe’s Companies by 3.4% in the fourth quarter. Peachtree Investment Partners LLC now owns 1,286 shares of the home improvement retailer’s stock valued at $317,000 after acquiring an additional 42 shares during the period. Second Line Capital LLC increased its position in Lowe’s Companies by 0.9% during the fourth quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer’s stock worth $1,183,000 after acquiring an additional 44 shares during the period. Finally, Cape Investment Advisory Inc. increased its position in Lowe’s Companies by 12.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 428 shares of the home improvement retailer’s stock worth $106,000 after acquiring an additional 46 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $221.47 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The firm’s 50-day simple moving average is $223.08 and its 200 day simple moving average is $236.58. The stock has a market cap of $124.12 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.06 earnings per share. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. 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 2.17%. The ex-dividend date is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio is presently 38.11%.

Insider Buying and Selling

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s 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 sale, the executive vice president now directly owns 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. DA Davidson lowered their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Mizuho reaffirmed an “outperform” rating and issued a $280.00 price objective on shares of Lowe’s Companies in a report on Friday, June 13th. Piper Sandler dropped their price target 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. Finally, Truist Financial set a $264.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

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.