Pitti Group Wealth Management LLC Grows Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Pitti Group Wealth Management LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 3.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 4,117 shares of the home improvement retailer’s stock after buying an additional 126 shares during the quarter. Lowe’s Companies accounts for about 1.0% of Pitti Group Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Pitti Group Wealth Management LLC’s holdings in Lowe’s Companies were worth $960,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. Wood Tarver Financial Group LLC bought a new position in Lowe’s Companies in the 4th quarter worth $25,000. Marshall Investment Management LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at about $31,000. Caisse Des Depots ET Consignations bought a new position in Lowe’s Companies in the fourth quarter worth about $33,000. Orion Capital Management LLC bought a new position in Lowe’s Companies in the fourth quarter worth about $36,000. Finally, IFS Advisors LLC lifted its holdings in 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 during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Mizuho set a $280.00 target price on Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Royal Bank of Canada reduced 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. KeyCorp upgraded Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price objective for the company in a report on Friday, April 25th. Stifel Nicolaus dropped their target price on shares of Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Tuesday, May 27th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $253.00 target price (down from $269.00) on shares of Lowe’s Companies in a research report on Wednesday, May 14th. One investment 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 company presently has an average rating of “Moderate Buy” and an average price target of $271.12.

Lowe’s Companies Trading Down 1.0%

LOW stock opened at $225.35 on Friday. The stock’s 50 day simple moving average is $223.72 and its 200 day simple moving average is $241.72. Lowe’s Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The stock has a market capitalization of $126.29 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the prior year, the company posted $3.06 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.77%.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president now directly owns 31,898 shares of the company’s stock, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company’s stock.

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.