Burgundy Asset Management Ltd. Sells 1,329 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Burgundy Asset Management Ltd. reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,456 shares of the home improvement retailer’s stock after selling 1,329 shares during the period. Burgundy Asset Management Ltd.’s holdings in Lowe’s Companies were worth $7,103,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wood Tarver Financial Group LLC bought a new position in Lowe’s Companies during the 4th quarter worth $25,000. Fairway Wealth LLC bought a new position in Lowe’s Companies during the 1st quarter worth $32,000. Orion Capital Management LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at about $36,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at about $36,000. Finally, IFS Advisors LLC lifted its stake in shares of Lowe’s Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 60 shares during the period. 74.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the company’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 transaction, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Down 0.5%

Shares of NYSE LOW opened at $251.86 on Friday. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The stock’s 50 day moving average price is $226.61 and its 200-day moving average price is $230.28. The company has a market capitalization of $141.15 billion, a PE ratio of 20.87, a PEG ratio of 2.38 and a beta of 0.89.

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 analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the previous year, the business earned $3.06 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a $1.20 dividend. The ex-dividend date was Wednesday, July 23rd. 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 1.9%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.77%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Sanford C. Bernstein set a $266.00 price objective on Lowe’s Companies and gave the company an “outperform” rating in a research note on Thursday, May 22nd. DA Davidson dropped 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. Truist Financial set a $264.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research note on Thursday, May 22nd. Finally, Stifel Nicolaus dropped their price objective on Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $270.68.

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.