Naples Global Advisors LLC Sells 75 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

by · The Cerbat Gem

Naples Global Advisors LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,539 shares of the home improvement retailer’s stock after selling 75 shares during the period. Naples Global Advisors LLC’s holdings in Lowe’s Companies were worth $1,992,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LOW. Norges Bank bought a new stake in Lowe’s Companies during the fourth quarter valued at $1,842,954,000. Kovitz Investment Group Partners LLC boosted its stake in Lowe’s Companies by 350.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock valued at $585,770,000 after buying an additional 1,846,315 shares during the period. GAMMA Investing LLC boosted its stake in Lowe’s Companies by 26,796.0% during the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock valued at $386,540,000 after buying an additional 1,651,170 shares during the period. Raymond James Financial Inc. bought a new stake in Lowe’s Companies during the fourth quarter valued at $314,435,000. Finally, Strategic Financial Concepts LLC boosted its stake in Lowe’s Companies by 24,531.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after buying an additional 1,223,116 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Trading Down 0.4%

LOW opened at $227.48 on Friday. Lowe’s Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The company has a market cap of $127.32 billion, a P/E ratio of 18.97, a P/E/G ratio of 1.96 and a beta of 1.00. The business’s 50-day moving average price is $223.89 and its 200-day moving average price is $241.95.

Lowe’s Companies (NYSE:LOW – Get Free Report) 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 company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the previous year, the business earned $3.06 EPS. Lowe’s Companies’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors 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 yield of 2.11%. The ex-dividend date is Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s payout ratio is currently 39.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LOW shares. Wall Street Zen raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Robert W. Baird lowered their price target on Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Stifel Nicolaus lowered their price target on Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Tuesday, May 27th. Citigroup restated a “neutral” rating and set a $253.00 price target (down previously from $269.00) on shares of Lowe’s Companies in a research report on Wednesday, May 14th. Finally, Morgan Stanley lowered their price target on 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $271.12.

Get Our Latest Analysis on LOW

Insider Activity at Lowe’s Companies

In other Lowe’s Companies 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 transaction of $257,075.00. Following the sale, the executive vice president now directly owns 31,898 shares of the company’s stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

Lowe’s Companies Profile

(Free Report)

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.

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