Perigon Wealth Management LLC Cuts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Perigon Wealth Management LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 54.1% during the 1st quarter, HoldingsChannel reports. The firm owned 3,709 shares of the home improvement retailer’s stock after selling 4,364 shares during the quarter. Perigon Wealth Management LLC’s holdings in Lowe’s Companies were worth $865,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in Lowe’s Companies by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer’s stock valued at $29,223,000 after purchasing an additional 1,470 shares during the period. Aptus Capital Advisors LLC increased its position in shares of Lowe’s Companies by 14.0% during the fourth quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer’s stock worth $26,236,000 after acquiring an additional 13,092 shares during the last quarter. World Investment Advisors increased its position in shares of Lowe’s Companies by 11.0% during the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer’s stock worth $6,498,000 after acquiring an additional 2,615 shares during the last quarter. Great Lakes Advisors LLC increased its position in shares of Lowe’s Companies by 1.5% during the fourth quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer’s stock worth $116,696,000 after acquiring an additional 7,187 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Lowe’s Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after acquiring an additional 993,833 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Up 1.1%

Shares of LOW stock opened at $223.66 on Friday. The business has a 50 day moving average of $223.18 and a two-hundred day moving average of $236.04. Lowe’s Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The company has a market cap of $125.35 billion, a P/E ratio of 18.53, a PEG ratio of 2.11 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last issued 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 the consensus estimate of $21.09 billion. During the same period in the previous year, the firm posted $3.06 earnings per share. Lowe’s Companies’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe’s Companies’s payout ratio is presently 38.11%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Royal Bank Of Canada dropped their target price on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 22nd. Wells Fargo & Company dropped their target price on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Mizuho reaffirmed an “outperform” rating and set a $280.00 target price on shares of Lowe’s Companies in a research report on Friday, June 13th. Sanford C. Bernstein set a $266.00 target price on Lowe’s Companies and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird dropped their target price 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. One investment 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.12.

Insider Buying and Selling at Lowe’s Companies

In other 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 transaction, 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 filing with the SEC, which is accessible through the SEC website. 0.27% of the stock is currently owned by insiders.

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.