Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden has reduced its stake in Lowe's Companies by 1.2%, owning 167,700 shares valued at approximately $39.1 million after selling 2,000 shares in the first quarter.
• Lowe's reported $2.92 earnings per share for the last quarter, surpassing expectations, although revenue declined by 2% year-on-year to $20.93 billion.
• The company announced an increase in its quarterly dividend to $1.20, representing a 2.0% yield and a payout ratio of approximately 39.77%.

Forsta AP Fonden lessened its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,700 shares of the home improvement retailer's stock after selling 2,000 shares during the quarter. Forsta AP Fonden's holdings in Lowe's Companies were worth $39,113,000 at the end of the most recent quarter.

Other hedge funds 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 in the 4th quarter valued at $25,000. Fairway Wealth LLC purchased a new position in shares of Lowe's Companies in the 1st quarter valued at $32,000. Orion Capital Management LLC purchased a new position in shares of Lowe's Companies in the 4th quarter valued at $36,000. Inlight Wealth Management LLC purchased a new position in shares of Lowe's Companies in the 1st quarter valued at $36,000. Finally, IFS Advisors LLC raised its stake in shares of Lowe's Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Insider Activity at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction dated 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 transaction, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company's stock.

Lowe's Companies Stock Up 1.2%

Shares of LOW traded up $2.81 during midday trading on Friday, hitting $241.37. The company had a trading volume of 2,746,101 shares, compared to its average volume of 2,652,532. The company's 50 day moving average price is $224.39 and its 200 day moving average price is $230.78. The stock has a market cap of $135.27 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.28 and a beta of 0.89. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company's revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 EPS. Equities analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were issued a $1.20 dividend. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Analyst Ratings Changes

LOW has been the topic of a number of research reports. DA Davidson cut their target price on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Citigroup cut their target price on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Sanford C. Bernstein set a $266.00 target price on shares of Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Wells Fargo & Company cut their target price on shares of 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. Finally, Royal Bank Of Canada dropped their price target on shares of 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. One analyst has rated the stock with a sell rating, nine have given 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.

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.