Gulf International Bank UK Ltd Lowers Stake in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Lowe's Companies, Inc. by 26.3%, owning 32,243 shares valued at $7.52 million after selling 11,517 shares in Q1.
• Lowe's reported a quarterly EPS of $2.92, surpassing analysts' estimates of $2.88, despite a 2.0% year-over-year revenue decline.
• The company has increased its quarterly dividend to $1.20 per share, which represents an annualized yield of 2.0%.

Gulf International Bank UK Ltd lessened its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 26.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,243 shares of the home improvement retailer's stock after selling 11,517 shares during the period. Gulf International Bank UK Ltd's holdings in Lowe's Companies were worth $7,520,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Gen Wealth Partners Inc boosted its position in shares of Lowe's Companies by 1.9% in the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock worth $534,000 after buying an additional 40 shares during the period. Second Line Capital LLC boosted its position in shares of Lowe's Companies by 0.9% in the fourth quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer's stock worth $1,183,000 after buying an additional 44 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Lowe's Companies by 0.8% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock worth $1,357,000 after buying an additional 47 shares during the period. Fielder Capital Group LLC boosted its position in shares of Lowe's Companies by 5.9% in the first quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock worth $202,000 after buying an additional 48 shares during the period. Finally, Dumont & Blake Investment Advisors LLC boosted its position in shares of Lowe's Companies by 1.1% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer's stock worth $1,066,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Up 2.2%

Shares of NYSE LOW opened at $245.10 on Wednesday. The stock's 50 day moving average price is $225.01 and its two-hundred day moving average price is $230.51. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The stock has a market capitalization of $137.36 billion, a P/E ratio of 20.31, a PEG ratio of 2.27 and a beta of 0.89.

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

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is currently 39.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LOW. DA Davidson decreased their target price on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and issued a $300.00 price target on shares of Lowe's Companies in a research note on Tuesday, July 22nd. KeyCorp upgraded Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target on the stock in a research note on Friday, April 25th. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $270.68.

Insider Buying and Selling at Lowe's Companies

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

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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