Mitsubishi UFJ Trust & Banking Corp Sells 12,554 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Lowe's Companies by 4.5%, owning 267,078 shares worth approximately $62.3 million after selling 12,554 shares.
• Lowe's declared a quarterly dividend increase to $1.20 per share, up from $1.15, with an annualized payout of $4.80 and a dividend yield of 2.1%.
• Securities analysts have set a consensus price target of $270.68 for Lowe's stock, with various ratings reflecting mixed sentiment among analysts.

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,078 shares of the home improvement retailer's stock after selling 12,554 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Lowe's Companies were worth $62,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LOW. Brighton Jones LLC raised its stake in shares of Lowe's Companies by 119.7% during the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after buying an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Lowe's Companies by 31.6% during the fourth 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 during the period. Arete Wealth Advisors LLC grew its holdings in Lowe's Companies by 15.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 3,664 shares of the home improvement retailer's stock valued at $904,000 after purchasing an additional 503 shares during the period. Prudential PLC grew its holdings in Lowe's Companies by 18.4% during the fourth quarter. Prudential PLC now owns 14,759 shares of the home improvement retailer's stock valued at $3,643,000 after purchasing an additional 2,289 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new position in Lowe's Companies during the fourth quarter valued at approximately $43,380,000. 74.06% of the stock is owned by institutional investors.

Lowe's Companies Stock Up 0.9%

Shares of LOW stock traded up $2.19 during trading on Tuesday, reaching $236.00. The company's stock had a trading volume of 419,319 shares, compared to its average volume of 2,643,260. The business has a fifty day moving average price of $223.29 and a 200-day moving average price of $231.19. The company has a market cap of $132.26 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.14 and a beta of 0.89. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01.

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 for 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 firm's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.06 earnings per share. Research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.0%. This is an increase 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 currently 39.77%.

Insider Transactions 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 shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares of the company's stock, 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 is available through this hyperlink. Company insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a report on Thursday, May 22nd. Citigroup decreased their price objective on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. Guggenheim restated a "buy" rating and set a $300.00 price objective on shares of Lowe's Companies in a report on Tuesday, July 22nd. Finally, Stifel Nicolaus decreased their price objective on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Lowe's Companies currently has an average rating of "Moderate Buy" and an average 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.