Riverbend Wealth Management LLC Sells 53 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Riverbend Wealth Management LLC lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,509 shares of the home improvement retailer’s stock after selling 53 shares during the period. Riverbend Wealth Management LLC’s holdings in Lowe’s Companies were worth $352,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in LOW. S.A. Mason LLC lifted its stake in shares of Lowe’s Companies by 2.8% during the first quarter. S.A. Mason LLC now owns 4,194 shares of the home improvement retailer’s stock valued at $978,000 after acquiring an additional 115 shares during the period. Econ Financial Services Corp lifted its stake in shares of Lowe’s Companies by 111.7% during the first quarter. Econ Financial Services Corp now owns 8,195 shares of the home improvement retailer’s stock valued at $1,911,000 after acquiring an additional 4,324 shares during the period. Moran Wealth Management LLC lifted its stake in shares of Lowe’s Companies by 23.5% during the first quarter. Moran Wealth Management LLC now owns 58,929 shares of the home improvement retailer’s stock valued at $13,744,000 after acquiring an additional 11,204 shares during the period. Unison Asset Management LLC lifted its stake in shares of Lowe’s Companies by 4.7% during the first quarter. Unison Asset Management LLC now owns 38,881 shares of the home improvement retailer’s stock valued at $8,469,000 after acquiring an additional 1,729 shares during the period. Finally, Cornerstone Wealth Group LLC lifted its stake in shares of Lowe’s Companies by 12.6% during the first quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer’s stock valued at $6,848,000 after acquiring an additional 3,295 shares during the period. Institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies 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 now owns 31,898 shares of the company’s stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LOW has been the topic of several research reports. JPMorgan Chase & Co. cut their price target 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. Robert W. Baird cut their price target on Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 price target on Lowe’s Companies and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Royal Bank Of Canada cut their price target on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 22nd. Finally, Bank of America cut their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Lowe’s Companies Price Performance

NYSE LOW opened at $220.12 on Wednesday. The firm has a market cap of $123.36 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.07 and a beta of 0.92. The stock’s 50-day moving average is $222.91 and its 200-day moving average is $237.06. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01.

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

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.18%. 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 dividend payout ratio (DPR) is currently 38.11%.

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.