First Fiduciary Investment Counsel Inc. Has $21.94 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

First Fiduciary Investment Counsel Inc. cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 5.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 94,054 shares of the home improvement retailer’s stock after selling 5,304 shares during the quarter. Lowe’s Companies accounts for approximately 4.7% of First Fiduciary Investment Counsel Inc.’s investment portfolio, making the stock its 3rd largest position. First Fiduciary Investment Counsel Inc.’s holdings in Lowe’s Companies were worth $21,936,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. DA Davidson dropped their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Royal Bank Of Canada reduced their price objective on shares of Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 22nd. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 21st. Finally, Stifel Nicolaus cut their target price 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 issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Insiders Place Their Bets

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the business’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 owns 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $223.66 on Monday. Lowe’s Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $311.00. The business has a fifty day moving average price of $223.18 and a 200 day moving average price of $235.85. The stock has a market capitalization of $125.35 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to analysts’ expectations 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 was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $3.06 EPS. As a group, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared 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 2.15%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe’s Companies’s payout ratio is currently 38.11%.

Lowe’s Companies Company 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.