Handelsbanken Fonder AB Sells 6,315 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Handelsbanken Fonder AB reduced its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 175,410 shares of the home improvement retailer's stock after selling 6,315 shares during the period. Handelsbanken Fonder AB's holdings in Lowe's Companies were worth $40,911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Klingenstein Fields & Co. LP raised its holdings in Lowe's Companies by 1.0% in the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer's stock worth $1,012,000 after purchasing an additional 39 shares during the period. Gen Wealth Partners Inc raised its holdings in 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 purchasing an additional 40 shares during the period. Cordatus Wealth Management LLC raised its holdings in Lowe's Companies by 0.3% in the fourth quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer's stock worth $3,705,000 after purchasing an additional 41 shares during the period. O Brien Greene & Co. Inc raised its holdings in Lowe's Companies by 1.5% in the fourth quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer's stock worth $715,000 after purchasing an additional 42 shares during the period. Finally, FFT Wealth Management LLC raised its holdings in Lowe's Companies by 3.1% in the fourth quarter. FFT Wealth Management LLC now owns 1,377 shares of the home improvement retailer's stock worth $340,000 after purchasing an additional 42 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe's Companies Stock Performance

Shares of LOW stock traded down $6.51 during midday trading on Friday, hitting $216.99. 2,425,924 shares of the company were exchanged, compared to its average volume of 2,526,279. The firm has a market capitalization of $121.61 billion, a P/E ratio of 18.10, a PEG ratio of 1.96 and a beta of 0.92. The firm's 50 day moving average price is $223.77 and its two-hundred day moving average price is $240.11. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01.

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. The business 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 8.19% and a negative return on equity of 47.55%. Lowe's Companies's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.06 EPS. Analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.21%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is currently 39.77%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a report on Thursday, February 27th. DA Davidson dropped their price objective on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock 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 report on Friday, April 25th. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Finally, Sanford C. Bernstein set a $266.00 price objective on shares of Lowe's Companies and gave the stock an "outperform" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and a consensus price target of $271.12.

Insider Buying and Selling 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 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 sale, the executive vice president now owns 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.