Penserra Capital Management LLC Decreases Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Penserra Capital Management LLC cut its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 30.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,583 shares of the home improvement retailer's stock after selling 2,002 shares during the quarter. Penserra Capital Management LLC's holdings in Lowe's Companies were worth $1,068,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Crew Capital Management Ltd. boosted its holdings in shares of Lowe's Companies by 3.2% during the 1st quarter. Crew Capital Management Ltd. now owns 4,246 shares of the home improvement retailer's stock worth $990,000 after purchasing an additional 132 shares during the last quarter. Chilton Capital Management LLC lifted its position in Lowe's Companies by 7.4% during the first quarter. Chilton Capital Management LLC now owns 158,916 shares of the home improvement retailer's stock worth $37,064,000 after buying an additional 10,924 shares in the last quarter. Bush Investment Group LLC boosted its stake in Lowe's Companies by 10.4% during the first quarter. Bush Investment Group LLC now owns 4,030 shares of the home improvement retailer's stock worth $940,000 after buying an additional 378 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in Lowe's Companies by 1.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 10,129 shares of the home improvement retailer's stock valued at $2,362,000 after buying an additional 105 shares in the last quarter. Finally, Whelan Financial increased its stake in shares of Lowe's Companies by 17.0% in the 1st quarter. Whelan Financial now owns 7,672 shares of the home improvement retailer's stock worth $1,789,000 after acquiring an additional 1,117 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president owned 31,898 shares of the company's stock, valued at $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LOW. DA Davidson lowered 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 report on Thursday, May 22nd. Morgan Stanley reduced their target price 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. 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. JPMorgan Chase & Co. cut their price target 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. Finally, Robert W. Baird decreased their price objective on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $271.12.

Lowe's Companies Stock Up 0.8%

Lowe's Companies stock traded up $1.71 during mid-day trading on Wednesday, reaching $225.38. 2,339,254 shares of the company's stock were exchanged, compared to its average volume of 2,499,732. Lowe's Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01. The company has a market cap of $126.31 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.13 and a beta of 0.90. The company has a fifty day moving average of $224.06 and a 200-day moving average of $234.62.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The business had revenue of $20.93 billion for the quarter, compared to analysts' expectations of $21.09 billion. During the same period last year, the firm earned $3.06 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. 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 2.13%. Lowe's Companies's payout ratio is currently 38.11%.

Lowe's Companies 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.