Foundations Investment Advisors LLC Sells 8,818 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Foundations Investment Advisors LLC reduced its stake in Lowe's Companies by 33.1%, now owning 17,850 shares worth approximately $4.16 million after selling 8,818 shares.
• Several institutional investors, including FMR LLC and Geode Capital Management LLC, increased their holdings in Lowe's, indicating strong institutional interest in the stock.
• Lowe's Companies announced a quarterly dividend increase to $1.20 per share, representing a 2.09% yield, with the ex-dividend date set for July 23rd.

Foundations Investment Advisors LLC lessened its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 33.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,850 shares of the home improvement retailer's stock after selling 8,818 shares during the period. Foundations Investment Advisors LLC's holdings in Lowe's Companies were worth $4,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its holdings in shares of Lowe's Companies by 2,984.6% in the 1st quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer's stock valued at $475,339,000 after buying an additional 1,971,996 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in shares of Lowe's Companies by 350.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer's stock valued at $585,770,000 after buying an additional 1,846,315 shares during the period. GAMMA Investing LLC increased its holdings in shares of Lowe's Companies by 26,796.0% in the 1st quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer's stock valued at $386,540,000 after purchasing an additional 1,651,170 shares in the last quarter. Northern Trust Corp lifted its stake 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 valued at $1,745,960,000 after purchasing an additional 993,833 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Lowe's Companies by 1,048.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer's stock valued at $172,527,000 after acquiring an additional 675,318 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Analysts Set New Price Targets

LOW has been the subject of a number of research analyst reports. DA Davidson dropped their price objective on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. KeyCorp upgraded shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price objective on the stock in a research note on Friday, April 25th. Guggenheim reissued a "buy" rating and set a $300.00 price target on shares of Lowe's Companies in a report on Tuesday, July 22nd. Sanford C. Bernstein set a $266.00 price objective on Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Lowe's Companies presently has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

Lowe's Companies Stock Performance

Shares of NYSE LOW traded down $2.55 during trading hours on Wednesday, reaching $227.49. 2,047,133 shares of the stock were exchanged, compared to its average volume of 2,644,854. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The stock's fifty day simple moving average is $222.93 and its 200 day simple moving average is $232.12. The firm has a market capitalization of $127.49 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 2.17 and a beta of 0.90.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $21.09 billion. During the same period last year, the firm earned $3.06 earnings per share. The business's revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS 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. Shareholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 39.77%.

Insider Activity at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the business'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 completion of the transaction, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.27% of the company's stock.

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.