Lowe's Companies, Inc. (NYSE:LOW) Stake Trimmed by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC has reduced its stake in Lowe's Companies by 15.9%, now holding 45,211 shares valued at approximately $10.5 million.
• During the most recent quarter, Lowe's reported earnings per share of $2.92, exceeding estimates, despite a 2.0% decline in revenue year-over-year.
• Lowe's recently increased its quarterly dividend to $1.20, reflecting an annualized yield of 2.0% and a payout ratio of 39.77%.

Mizuho Securities USA LLC lessened its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,211 shares of the home improvement retailer's stock after selling 8,556 shares during the period. Mizuho Securities USA LLC's holdings in Lowe's Companies were worth $10,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LOW. Brighton Jones LLC increased its holdings in shares of Lowe's Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock valued at $7,889,000 after purchasing an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Lowe's Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after purchasing an additional 259 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Lowe's Companies by 2,962.5% during the 4th quarter. Renaissance Technologies LLC now owns 98,000 shares of the home improvement retailer's stock valued at $24,186,000 after purchasing an additional 94,800 shares in the last quarter. F M Investments LLC purchased a new position in shares of Lowe's Companies during the 4th quarter valued at approximately $201,000. Finally, Phoenix Financial Ltd. increased its holdings in shares of Lowe's Companies by 16.3% during the 4th quarter. Phoenix Financial Ltd. now owns 1,797 shares of the home improvement retailer's stock valued at $444,000 after purchasing an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Down 0.5%

NYSE:LOW traded down $1.11 on Monday, reaching $240.04. 2,602,458 shares of the company's stock were exchanged, compared to its average volume of 2,697,837. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The firm has a market capitalization of $134.53 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89. The business has a fifty day moving average of $224.68 and a 200-day moving average of $230.41.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts' consensus estimates 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 negative return on equity of 49.12% and a net margin of 8.22%. The business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.06 earnings per share. As a group, equities analysts anticipate 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. Stockholders of record on Wednesday, July 23rd were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date was Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 39.77%.

Insider Activity at Lowe's Companies

In other Lowe's Companies 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 completion of the transaction, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LOW shares. Morgan Stanley dropped their price target on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Robert W. Baird dropped their price target 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. DA Davidson dropped their price target on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, Lowe's Companies currently has a consensus rating of "Moderate Buy" and an average target price 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.