Miracle Mile Advisors LLC Sells 412 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Miracle Mile Advisors LLC lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,616 shares of the home improvement retailer’s stock after selling 412 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Lowe’s Companies were worth $4,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Klingenstein Fields & Co. LP boosted its holdings in Lowe’s Companies by 1.0% in the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock worth $1,012,000 after acquiring an additional 39 shares in the last quarter. Gen Wealth Partners Inc boosted its holdings in Lowe’s Companies by 1.9% in the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock worth $534,000 after acquiring an additional 40 shares in the last quarter. Cordatus Wealth Management LLC boosted its holdings in Lowe’s Companies by 0.3% in the fourth quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock worth $3,705,000 after acquiring an additional 41 shares in the last quarter. O Brien Greene & Co. Inc boosted its holdings in Lowe’s Companies by 1.5% in the fourth quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock worth $715,000 after acquiring an additional 42 shares in the last quarter. Finally, FFT Wealth Management LLC boosted its holdings in Lowe’s Companies by 3.1% in the fourth quarter. FFT Wealth Management LLC now owns 1,377 shares of the home improvement retailer’s stock worth $340,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $225.35 on Monday. 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, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The business has a 50 day simple moving average of $223.72 and a 200-day simple moving average of $241.40.

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

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.13%. Lowe’s Companies’s payout ratio is 39.77%.

Insider Activity

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business’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 transaction of $257,075.00. Following the completion of the sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on LOW. Stifel Nicolaus lowered their price target on Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. Morgan Stanley lowered their price target on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Truist Financial set a $264.00 target price on Lowe’s Companies and gave the stock a “buy” rating in a report on Thursday, May 22nd. DA Davidson decreased their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Finally, Piper Sandler decreased their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.12.

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.