Avanza Fonder AB Decreases Position in Lowe's Companies, Inc. (NYSE:LOW)

Avanza Fonder AB cut its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,013 shares of the home improvement retailer's stock after selling 3,169 shares during the period. Avanza Fonder AB's holdings in Lowe's Companies were worth $12,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nations Financial Group Inc. IA ADV boosted its position in shares of Lowe's Companies by 2.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer's stock worth $4,894,000 after acquiring an additional 501 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in Lowe's Companies by 14.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock worth $26,236,000 after purchasing an additional 13,092 shares in the last quarter. World Investment Advisors boosted its holdings in shares of Lowe's Companies by 11.0% during the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after purchasing an additional 2,615 shares during the last quarter. Great Lakes Advisors LLC grew 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 valued at $116,696,000 after purchasing an additional 7,187 shares in the last quarter. Finally, Northern Trust Corp increased 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 purchasing an additional 993,833 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Trading Down 0.5%

Shares of Lowe's Companies stock traded down $1.16 during trading on Wednesday, hitting $223.74. 417,264 shares of the stock traded hands, compared to its average volume of 2,517,138. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The stock's fifty day simple moving average is $223.54 and its 200 day simple moving average is $241.00. The firm has a market cap of $125.39 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted 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 net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter last year, the firm posted $3.06 EPS. The company's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors 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. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.15%. Lowe's Companies's payout ratio is 39.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LOW. 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. BNP Paribas raised shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. Piper Sandler lowered their price objective on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Citigroup restated a "neutral" rating and issued a $253.00 target price (down from $269.00) on shares of Lowe's Companies in a report on Wednesday, May 14th. Finally, Stifel Nicolaus lowered their price target on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $271.12.

Insiders Place Their Bets

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were 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 now directly owns 31,898 shares of the company's stock, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is 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.