Invesco Ltd. Raises Stake in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Invesco Ltd. increased its stake in Lowe's Companies by 10.6%, acquiring an additional 501,154 shares in the first quarter, bringing its total to over 5.2 million shares valued at approximately $1.21 billion.
• Lowe's Companies recently reported quarterly earnings with an EPS of $2.92, exceeding estimates, but experienced a 2.0% revenue decline from the previous year, totaling $20.93 billion.
• The company declared a quarterly dividend increase from $1.15 to $1.20, yielding 2.0% annually, with a payout ratio of approximately 39.77%.

Invesco Ltd. grew its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 10.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,207,081 shares of the home improvement retailer's stock after acquiring an additional 501,154 shares during the period. Invesco Ltd. owned about 0.93% of Lowe's Companies worth $1,214,448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wood Tarver Financial Group LLC bought a new position in Lowe's Companies in the 4th quarter worth approximately $25,000. Fairway Wealth LLC bought a new position in Lowe's Companies in the 1st quarter worth approximately $32,000. Orion Capital Management LLC bought a new position in Lowe's Companies in the 4th quarter worth approximately $36,000. Inlight Wealth Management LLC bought a new position in Lowe's Companies in the 1st quarter worth approximately $36,000. Finally, IFS Advisors LLC boosted its holdings in Lowe's Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after buying an additional 60 shares during the period. 74.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president owned 31,898 shares in the company, valued at $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The sale 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 Price Performance

Shares of NYSE:LOW traded up $6.52 during trading on Wednesday, hitting $251.39. 490,356 shares of the company's stock were exchanged, compared to its average volume of 2,644,183. The business's 50-day simple moving average is $225.01 and its 200 day simple moving average is $230.51. The company has a market cap of $140.89 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 2.27 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 issued its 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. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the prior year, the business earned $3.06 earnings per share. Lowe's Companies's revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Wednesday, July 23rd. This is a positive change 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 1.9%. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. cut 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 report on Tuesday, May 6th. Royal Bank Of Canada lowered their target price 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. Sanford C. Bernstein set a $266.00 target price on shares of Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and issued a $300.00 target price on shares of Lowe's Companies in a research note on Tuesday, July 22nd. Finally, Citigroup lowered 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.