Lowe's Companies, Inc. $LOW Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Lowe's Companies by 2.1%, now holding approximately 6.9 million shares worth about $1.6 billion.
• Lowe's reported earnings per share of $2.92, surpassing the expected $2.88, although revenue was down 2.0% year-over-year at $20.93 billion.
• The company has recently increased its quarterly dividend to $1.20 per share, representing a 1.9% yield and a payout ratio of 39.77%.

Northern Trust Corp lowered its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,924,599 shares of the home improvement retailer's stock after selling 149,792 shares during the quarter. Northern Trust Corp owned about 1.24% of Lowe's Companies worth $1,615,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Wood Tarver Financial Group LLC bought a new position in Lowe's Companies in the 4th quarter valued at about $25,000. Fairway Wealth LLC acquired a new stake in shares of Lowe's Companies during the 1st quarter valued at $32,000. Orion Capital Management LLC purchased a new stake in shares of Lowe's Companies during the fourth quarter valued at $36,000. Inlight Wealth Management LLC purchased a new position in Lowe's Companies in the 1st quarter worth about $36,000. Finally, IFS Advisors LLC increased its stake 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 purchasing an additional 60 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Down 0.5%

Shares of LOW stock opened at $251.86 on Monday. The company has a market capitalization of $141.15 billion, a P/E ratio of 20.87, a P/E/G ratio of 2.38 and a beta of 0.89. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The firm has a 50-day moving average price of $226.61 and a 200 day moving average price of $230.05.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping 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%. The company's revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $3.06 earnings per share. As a group, research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were issued a $1.20 dividend. This is an increase 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%. The ex-dividend date of this dividend was Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Insider Buying and Selling at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction 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 transaction, the executive vice president owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LOW shares. Citigroup dropped 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 report on Thursday, July 31st. Robert W. Baird cut their target price on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company reduced their target price on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Royal Bank Of Canada dropped their price target on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 22nd. Finally, Guggenheim restated a "buy" rating and set a $300.00 price target on shares of Lowe's Companies in a report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $270.68.

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.

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