Cigna Investments Inc. New grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 23.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,108 shares of the home improvement retailer’s stock after purchasing an additional 4,745 shares during the quarter. Cigna Investments Inc. New’s holdings in Lowe’s Companies were worth $2,159,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Intersect Capital LLC increased its holdings in shares of Lowe’s Companies by 4.4% during the 4th quarter. Intersect Capital LLC now owns 2,562 shares of the home improvement retailer’s stock worth $307,000 after buying an additional 107 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth $652,000. Arizona State Retirement System increased its holdings in Lowe’s Companies by 3.5% in the 4th quarter. Arizona State Retirement System now owns 172,767 shares of the home improvement retailer’s stock valued at $20,691,000 after purchasing an additional 5,889 shares in the last quarter. RMR Wealth Builders acquired a new stake in Lowe’s Companies in the 4th quarter valued at $378,000. Finally, Cetera Investment Advisers increased its holdings in Lowe’s Companies by 27.8% in the 4th quarter. Cetera Investment Advisers now owns 2,995 shares of the home improvement retailer’s stock valued at $358,000 after purchasing an additional 652 shares in the last quarter. 76.15% of the stock is currently owned by institutional investors.
In related news, CEO Marvin R. Ellison acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average price of $103.86 per share, for a total transaction of $1,038,600.00. Following the completion of the purchase, the chief executive officer now directly owns 90,090 shares of the company’s stock, valued at $9,356,747.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.07% of the stock is currently owned by company insiders.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 20th. The home improvement retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.32 by $0.45. Lowe’s Companies had a net margin of 6.17% and a return on equity of 220.44%. The company had revenue of $19.68 billion for the quarter, compared to analyst estimates of $18.33 billion. During the same quarter last year, the business earned $1.22 earnings per share. Lowe’s Companies’s revenue was up 10.9% compared to the same quarter last year. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 5.97 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were paid a $0.55 dividend. The ex-dividend date was Tuesday, April 21st. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. Lowe’s Companies’s payout ratio is currently 38.46%.
Several analysts recently issued reports on the company. UBS Group increased their price target on Lowe’s Companies from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday. Goldman Sachs Group downgraded Lowe’s Companies from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, March 18th. Loop Capital increased their price target on Lowe’s Companies from $105.00 to $140.00 in a report on Thursday. Piper Sandler increased their price target on Lowe’s Companies from $139.00 to $147.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Finally, Telsey Advisory Group reiterated an “outperform” rating on shares of Lowe’s Companies in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $132.54.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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