KBC Group NV Sells 6,958 Shares of Lowe's Companies, Inc. (NYSE:LOW)

KBC Group NV cut its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,957 shares of the home improvement retailer's stock after selling 6,958 shares during the quarter. KBC Group NV's holdings in Lowe's Companies were worth $43,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LOW. Wood Tarver Financial Group LLC bought a new stake in shares of Lowe's Companies during the 4th quarter valued at approximately $25,000. Caisse Des Depots ET Consignations acquired a new stake in Lowe's Companies in the fourth quarter valued at approximately $33,000. Orion Capital Management LLC bought a new stake in shares of Lowe's Companies during the fourth quarter worth $36,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe's Companies during the first quarter worth $36,000. Finally, IFS Advisors LLC increased its holdings in shares of Lowe's Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after buying an additional 60 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Performance

Shares of LOW opened at $223.66 on Monday. The firm has a market cap of $125.35 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $311.00. The business's 50 day moving average price is $223.18 and its two-hundred day moving average price is $235.85.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. Lowe's Companies's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.06 EPS. 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. Investors of record on Wednesday, July 23rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.15%. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's payout ratio is presently 38.11%.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the transaction, the executive vice president now directly owns 31,898 shares in the company, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LOW shares. Stifel Nicolaus reduced their price objective on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Wall Street Zen upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Citigroup reaffirmed a "neutral" rating and issued a $253.00 price objective (down previously from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. Piper Sandler cut their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Finally, Mizuho reissued an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

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.

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