Insight Wealth Strategies LLC Sells 178 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Insight Wealth Strategies LLC cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.7% in the first quarter, HoldingsChannel reports. The firm owned 2,479 shares of the home improvement retailer’s stock after selling 178 shares during the period. Insight Wealth Strategies LLC’s holdings in Lowe’s Companies were worth $471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. Norges Bank bought a new position in shares of Lowe’s Companies in the 4th quarter worth $1,285,445,000. FMR LLC raised its position in shares of Lowe’s Companies by 10.7% in the 4th quarter. FMR LLC now owns 30,352,415 shares of the home improvement retailer’s stock worth $4,871,866,000 after acquiring an additional 2,940,777 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Lowe’s Companies by 17.8% in the 4th quarter. Lazard Asset Management LLC now owns 6,502,725 shares of the home improvement retailer’s stock worth $1,043,751,000 after acquiring an additional 982,465 shares in the last quarter. Maj Invest Holding A S raised its position in shares of Lowe’s Companies by 40.6% in the 1st quarter. Maj Invest Holding A S now owns 2,719,656 shares of the home improvement retailer’s stock worth $517,221,000 after acquiring an additional 785,550 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Lowe’s Companies by 15.6% in the 4th quarter. Morgan Stanley now owns 5,819,866 shares of the home improvement retailer’s stock worth $934,149,000 after acquiring an additional 783,731 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

LOW opened at $191.12 on Friday. The stock has a market capitalization of $135.10 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 1.29 and a beta of 1.35. The stock’s fifty day moving average price is $197.17. Lowe’s Companies, Inc. has a 52 week low of $123.09 and a 52 week high of $215.22. The company has a debt-to-equity ratio of 49.23, a quick ratio of 0.37 and a current ratio of 1.17.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, May 18th. The home improvement retailer reported $3.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.58 by $0.63. The firm had revenue of $24.42 billion during the quarter, compared to analyst estimates of $22.91 billion. Lowe’s Companies had a return on equity of 296.41% and a net margin of 7.23%. Lowe’s Companies’s revenue was up 24.1% compared to the same quarter last year. During the same period last year, the business posted $1.77 earnings per share. Research analysts expect that Lowe’s Companies, Inc. will post 10.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 4th. Investors of record on Wednesday, July 21st will be issued a $0.80 dividend. The ex-dividend date is Tuesday, July 20th. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.60. This represents a $3.20 dividend on an annualized basis and a yield of 1.67%. Lowe’s Companies’s dividend payout ratio (DPR) is 27.09%.

In other Lowe’s Companies news, EVP Seemantini Godbole sold 15,234 shares of the firm’s stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $190.77, for a total value of $2,906,190.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by company insiders.

Several research firms have recently commented on LOW. Jefferies Financial Group boosted their price target on Lowe’s Companies from $200.00 to $247.00 and gave the stock a “buy” rating in a research report on Friday, May 14th. Bank of America reaffirmed a “buy” rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 19th. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a research report on Wednesday, May 19th. Royal Bank of Canada upped their target price on Lowe’s Companies from $234.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, May 20th. Finally, JPMorgan Chase & Co. upped their target price on Lowe’s Companies from $177.00 to $204.00 and gave the company a “neutral” rating in a research report on Monday, April 19th. Five investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $199.55.

Lowe’s Companies Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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