Sequoia Financial Advisors LLC Grows Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Sequoia Financial Advisors LLC boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,261 shares of the home improvement retailer’s stock after purchasing an additional 3,080 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Lowe’s Companies were worth $9,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Lowe’s Companies by 1.0% in the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock valued at $6,483,558,000 after acquiring an additional 259,766 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Lowe’s Companies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock valued at $2,952,341,000 after purchasing an additional 245,876 shares in the last quarter. Norges Bank bought a new position in Lowe’s Companies in the fourth quarter worth approximately $1,842,954,000. Northern Trust Corp lifted its holdings in Lowe’s Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after buying an additional 993,833 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Lowe’s Companies by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer’s stock valued at $1,242,793,000 after acquiring an additional 323,371 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

LOW opened at $221.47 on Friday. The stock has a market capitalization of $124.12 billion, a PE ratio of 18.35, a P/E/G ratio of 2.09 and a beta of 0.92. The business’s 50 day moving average price is $223.08 and its 200 day moving average price is $236.58. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01.

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

Lowe’s Companies Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.17%. Lowe’s Companies’s payout ratio is presently 38.11%.

Insider Activity at Lowe’s Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s 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 completion of the sale, the executive vice president now owns 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LOW shares. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Sanford C. Bernstein set a $266.00 price target on Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Piper Sandler dropped their price target on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. DA Davidson decreased their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Finally, KeyCorp raised shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 target price on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.