Concurrent Investment Advisors LLC Has $9.78 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Concurrent Investment Advisors LLC grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 38.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,932 shares of the home improvement retailer’s stock after purchasing an additional 11,611 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Lowe’s Companies were worth $9,780,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Gen Wealth Partners Inc raised its stake in Lowe’s Companies by 1.9% in the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock valued at $534,000 after purchasing an additional 40 shares in the last quarter. Peachtree Investment Partners LLC grew its position in Lowe’s Companies by 3.4% during 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 last quarter. Second Line Capital LLC grew its holdings in shares of Lowe’s Companies by 0.9% in the fourth quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer’s stock worth $1,183,000 after purchasing an additional 44 shares during the last quarter. Dumont & Blake Investment Advisors LLC grew its holdings in shares of Lowe’s Companies by 1.1% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer’s stock worth $1,066,000 after purchasing an additional 49 shares during the last quarter. Finally, Sollinda Capital Management LLC grew its holdings in shares of Lowe’s Companies by 0.8% in the fourth quarter. Sollinda Capital Management LLC now owns 6,703 shares of the home improvement retailer’s stock worth $1,654,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In other 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 transaction, the executive vice president owned 31,898 shares of the company’s stock, valued at $7,256,795. The trade was 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.

Lowe’s Companies Trading Up 0.5%

Shares of LOW stock opened at $228.00 on Friday. Lowe’s Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The stock has a market cap of $127.78 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.16 and a beta of 0.90. The company’s fifty day moving average price is $223.98 and its 200-day moving average price is $235.03.

Lowe’s Companies (NYSE:LOW) last announced its 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. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. During the same quarter in the previous year, the business posted $3.06 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.11%. 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 currently 38.11%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LOW shares. Citigroup restated a “neutral” rating and issued a $253.00 target price (down previously from $269.00) on shares of Lowe’s Companies in a report on Wednesday, May 14th. Mizuho restated an “outperform” rating and issued a $280.00 target price on shares of Lowe’s Companies in a report on Friday, June 13th. Sanford C. Bernstein set a $266.00 target price on shares of Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. DA Davidson cut their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Finally, Piper Sandler cut their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.