Investor s Fiduciary Advisor Network LLC Cuts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Investor s Fiduciary Advisor Network LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 24.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,657 shares of the home improvement retailer’s stock after selling 848 shares during the period. Investor s Fiduciary Advisor Network LLC’s holdings in Lowe’s Companies were worth $619,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOW. Wood Tarver Financial Group LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth about $25,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth about $33,000. Orion Capital Management LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth about $36,000. Inlight Wealth Management LLC purchased a new stake in shares of Lowe’s Companies in the first quarter worth about $36,000. Finally, IFS Advisors LLC lifted its holdings in shares of Lowe’s Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 60 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Up 0.5%

Shares of NYSE:LOW opened at $228.00 on Friday. Lowe’s Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The stock has a market cap of $127.78 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.16 and a beta of 0.90. The business has a 50-day moving average price of $223.98 and a 200-day moving average price of $234.93.

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

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LOW shares. KeyCorp raised shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price target on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Truist Financial set a $264.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Thursday, May 22nd. Wells Fargo & Company decreased their price objective on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Finally, Piper Sandler decreased their price objective on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $271.12.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares of the company’s stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

About Lowe’s Companies

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.