China Universal Asset Management Co. Ltd. Sells 4,755 Shares of Lowe's Companies, Inc. (NYSE:LOW)

China Universal Asset Management Co. Ltd. reduced its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 49.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,937 shares of the home improvement retailer's stock after selling 4,755 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Lowe's Companies were worth $1,151,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Wood Tarver Financial Group LLC purchased a new position in shares of Lowe's Companies during the 4th quarter valued at about $25,000. Fairway Wealth LLC purchased a new position in shares of Lowe's Companies during the 1st quarter valued at about $32,000. Caisse Des Depots ET Consignations purchased a new position in shares of Lowe's Companies during the 4th quarter valued at about $33,000. Orion Capital Management LLC purchased a new position in shares of Lowe's Companies during the 4th quarter valued at about $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Lowe's Companies during the 1st quarter valued at about $36,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company's stock.

Lowe's Companies Stock Performance

Shares of NYSE:LOW traded down $3.70 during trading on Friday, reaching $224.21. 381,837 shares of the stock traded hands, compared to its average volume of 2,493,105. The stock has a 50-day moving average of $224.20 and a two-hundred day moving average of $234.42. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The stock has a market cap of $125.66 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.13 and a beta of 0.90.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly 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 8.22% and a negative return on equity of 49.12%. The firm had revenue of $20.93 billion for the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter in the prior year, the company posted $3.06 earnings per share. The business's revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.14%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is currently 39.77%.

Wall Street Analyst Weigh In

Several research firms have issued reports on LOW. JPMorgan Chase & Co. cut their price target on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Stifel Nicolaus cut 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 research report on Tuesday, May 27th. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Citigroup restated a "neutral" rating and set a $253.00 price target (down from $269.00) on shares of Lowe's Companies in a research report on Wednesday, May 14th. Finally, Robert W. Baird cut 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 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $271.12.

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.