Bessemer Group Inc. Sells 237,349 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Bessemer Group Inc. decreased its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 12.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,681,398 shares of the home improvement retailer's stock after selling 237,349 shares during the period. Bessemer Group Inc. owned approximately 0.30% of Lowe's Companies worth $392,152,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LOW. FMR LLC increased its holdings in shares of Lowe's Companies by 1.0% in the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock worth $6,483,558,000 after acquiring an additional 259,766 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Lowe's Companies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock valued at $2,952,341,000 after purchasing an additional 245,876 shares during the period. Norges Bank bought a new stake in Lowe's Companies during the 4th quarter worth approximately $1,842,954,000. Northern Trust Corp increased its stake in Lowe's Companies by 16.3% during the 4th 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Lowe's Companies by 6.9% during the 4th 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. Institutional investors own 74.06% of the company's stock.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction 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 sale, the executive vice president now owns 31,898 shares of the company's stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LOW shares. Piper Sandler cut their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Bank of America dropped their target price on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Mizuho reaffirmed an "outperform" rating and set a $280.00 price target on shares of Lowe's Companies in a research report on Friday, June 13th. Robert W. Baird decreased their price target on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $271.12.

Lowe's Companies Price Performance

LOW stock traded up $0.78 during midday trading on Wednesday, reaching $220.76. 2,081,662 shares of the company were exchanged, compared to its average volume of 2,535,143. Lowe's Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The firm has a market capitalization of $123.72 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.07 and a beta of 0.92. The business has a 50-day moving average price of $222.91 and a two-hundred day moving average price of $237.06.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter last year, the company posted $3.06 EPS. Lowe's Companies's quarterly 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 fiscal year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given 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 annualized dividend and a dividend yield of 2.17%. Lowe's Companies's dividend payout ratio is presently 38.11%.

Lowe's Companies Company 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.