Wealth Enhancement Advisory Services LLC Increases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,824 shares of the home improvement retailer’s stock after buying an additional 20,434 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.07% of Lowe’s Companies worth $97,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wood Tarver Financial Group LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at $25,000. Marshall Investment Management LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at $31,000. Caisse Des Depots ET Consignations purchased a new position in Lowe’s Companies in the 4th quarter valued at $33,000. Orion Capital Management LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at $36,000. Finally, IFS Advisors LLC lifted its holdings in Lowe’s Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $210.72 on Friday. The business has a 50-day moving average of $223.18 and a 200 day moving average of $238.45. 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 $118.10 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.99 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last announced its earnings results 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. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company had revenue of $20.93 billion during the quarter, compared to analysts’ expectations of $21.09 billion. During the same period last year, the business posted $3.06 EPS. Lowe’s Companies’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share 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 issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.28%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Royal Bank Of Canada decreased their price objective on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a report on Thursday, May 22nd. Morgan Stanley cut their target price on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Mizuho reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Lowe’s Companies in a research note on Friday, June 13th. JPMorgan Chase & Co. cut their target price on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company cut their target price on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $271.12.

Insider Activity at Lowe’s Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the transaction, the executive vice president now owns 31,898 shares in the company, 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 SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by company insiders.

About Lowe’s Companies

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.