BNC Wealth Management LLC Decreases Position in Lowe’s Companies, Inc. (NYSE:LOW)

BNC Wealth Management LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,396 shares of the home improvement retailer’s stock after selling 68 shares during the quarter. BNC Wealth Management LLC’s holdings in Lowe’s Companies were worth $559,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV raised its position in Lowe’s Companies by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock worth $4,894,000 after purchasing an additional 501 shares during the period. Aptus Capital Advisors LLC raised its position in Lowe’s Companies by 14.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer’s stock worth $26,236,000 after purchasing an additional 13,092 shares during the period. World Investment Advisors increased its position in shares of Lowe’s Companies by 11.0% in the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer’s stock valued at $6,498,000 after acquiring an additional 2,615 shares during the period. Great Lakes Advisors LLC increased its position in shares of Lowe’s Companies by 1.5% in the fourth quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer’s stock valued at $116,696,000 after acquiring an additional 7,187 shares during the period. Finally, Northern Trust Corp increased its position in shares of Lowe’s Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock valued at $1,745,960,000 after acquiring an additional 993,833 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LOW. Piper Sandler decreased their price objective on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. DA Davidson decreased their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Truist Financial set a $264.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday, May 22nd. Citigroup restated a “neutral” rating and issued a $253.00 price objective (down previously from $269.00) on shares of Lowe’s Companies in a research report on Wednesday, May 14th. Finally, Morgan Stanley decreased their price objective on shares of Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus target price of $271.12.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were 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 of the company’s stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by insiders.

Lowe’s Companies Price Performance

NYSE:LOW opened at $216.99 on Friday. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The company’s 50-day simple moving average is $223.77 and its 200 day simple moving average is $240.11. The firm has a market capitalization of $121.61 billion, a P/E ratio of 18.10, a PEG ratio of 1.96 and a beta of 0.92.

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, topping the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the previous year, the firm posted $3.06 earnings per share. Lowe’s Companies’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share 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. Investors of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.21%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s payout ratio is presently 39.77%.

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.