AMF Tjanstepension AB Trims Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• AMF Tjanstepension AB reduced its stake in Lowe's Companies by 15%, owning 113,809 shares valued at approximately $26.56 million post-sale.
• Several analysts have issued varying ratings, with DA Davidson lowering its price target from $270 to $240 while Guggenheim kept a buy rating with a target of $300.
• Lowe's recently announced a quarterly dividend increase to $1.20 per share, up from $1.15, reflecting a 2.0% yield and a payout ratio of 39.77%.

AMF Tjanstepension AB cut its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 15.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,809 shares of the home improvement retailer's stock after selling 20,123 shares during the period. AMF Tjanstepension AB's holdings in Lowe's Companies were worth $26,563,000 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 added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Lowe's Companies by 0.4% in the first quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer's stock worth $12,736,545,000 after buying an additional 230,359 shares during the period. Northern Trust Corp raised its holdings 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 worth $1,745,960,000 after buying an additional 993,833 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Lowe's Companies by 6.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer's stock worth $1,192,213,000 after buying an additional 330,701 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Lowe's Companies by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock worth $1,242,793,000 after buying an additional 323,371 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Lowe's Companies by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,501,740 shares of the home improvement retailer's stock worth $816,711,000 after buying an additional 42,676 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lowe's Companies 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 transaction of $257,075.00. Following the completion of the sale, the executive vice president owned 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.27% of the company's stock.

Lowe's Companies Stock Up 2.2%

Shares of Lowe's Companies stock traded up $5.37 during trading on Tuesday, reaching $245.22. The company's stock had a trading volume of 1,329,478 shares, compared to its average volume of 2,648,000. The company has a market cap of $137.43 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 2.28 and a beta of 0.89. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The company has a 50-day simple moving average of $224.68 and a two-hundred day simple moving average of $230.41.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping 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 quarter in the previous year, the firm posted $3.06 EPS. The firm's revenue was down 2.0% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is presently 39.77%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LOW shares. Stifel Nicolaus reduced their price target on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Guggenheim reissued a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a research note on Tuesday, July 22nd. Wells Fargo & Company dropped their price objective on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Royal Bank Of Canada dropped their price objective on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 22nd. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research note on Wednesday, May 21st. 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $270.68.

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.