Envestnet Portfolio Solutions Inc. Sells 12,806 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Envestnet Portfolio Solutions Inc. lessened its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 22.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,315 shares of the home improvement retailer's stock after selling 12,806 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Lowe's Companies were worth $10,336,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Lowe's Companies by 1.0% in the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock worth $6,483,558,000 after purchasing an additional 259,766 shares during the period. Geode Capital Management LLC raised its holdings 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 worth $2,952,341,000 after purchasing an additional 245,876 shares during the period. Norges Bank bought a new stake in shares of Lowe's Companies in the 4th quarter worth approximately $1,842,954,000. Northern Trust Corp grew its stake in Lowe's Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after buying an additional 993,833 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Lowe's Companies by 6.9% in 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 valued at $1,242,793,000 after buying an additional 323,371 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Performance

NYSE LOW opened at $210.72 on Friday. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The company has a market capitalization of $118.10 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.99 and a beta of 0.92. The company has a fifty day moving average of $223.18 and a 200-day moving average of $238.45.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $21.09 billion. During the same period 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 forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's payout ratio is currently 38.11%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. DA Davidson reduced their price objective on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Bank of America reduced their price objective on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their price objective on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. KeyCorp upgraded shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price objective for the company in a research note on Friday, April 25th. Finally, Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $271.12.

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

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.

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