Lowe's Companies, Inc. (NYSE:LOW) is Maj Invest Holding A S's 5th Largest Position

Maj Invest Holding A S reduced its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 703,551 shares of the home improvement retailer's stock after selling 39,792 shares during the period. Lowe's Companies accounts for 5.9% of Maj Invest Holding A S's portfolio, making the stock its 5th largest position. Maj Invest Holding A S owned approximately 0.13% of Lowe's Companies worth $164,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whelan Financial grew its position 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 buying an additional 1,117 shares during the period. Novare Capital Management LLC boosted its stake in Lowe's Companies by 1.1% during the first quarter. Novare Capital Management LLC now owns 47,013 shares of the home improvement retailer's stock worth $10,965,000 after acquiring an additional 491 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in Lowe's Companies by 38.3% in the first quarter. Concurrent Investment Advisors LLC now owns 41,932 shares of the home improvement retailer's stock worth $9,780,000 after purchasing an additional 11,611 shares during the period. HM Payson & Co. increased its stake in shares of Lowe's Companies by 5.9% during the first quarter. HM Payson & Co. now owns 232,047 shares of the home improvement retailer's stock valued at $54,120,000 after purchasing an additional 12,994 shares in the last quarter. Finally, Capital Investment Advisory Services LLC increased its stake in shares of Lowe's Companies by 13.9% during the first quarter. Capital Investment Advisory Services LLC now owns 26,520 shares of the home improvement retailer's stock valued at $6,185,000 after purchasing an additional 3,243 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Up 0.5%

NYSE:LOW traded up $1.06 during trading hours on Friday, reaching $228.00. The company had a trading volume of 1,777,904 shares, compared to its average volume of 2,500,517. The firm has a market cap of $127.78 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.16 and a beta of 0.90. The firm's 50 day moving average price is $223.98 and its 200-day moving average price is $234.93. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion for 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 company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the business posted $3.06 EPS. On average, analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal 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 paid a dividend of $1.20 per share. 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 2.11%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's payout ratio is currently 38.11%.

Wall Street Analyst Weigh In

LOW has been the topic of several recent research reports. Citigroup restated a "neutral" rating and issued a $253.00 price target (down previously from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a research note on Friday, April 25th. Truist Financial set a $264.00 price target on Lowe's Companies and gave the company a "buy" rating in a report on Thursday, May 22nd. Royal Bank Of Canada lowered their price target on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research report on Thursday, May 22nd. Finally, DA Davidson cut their price objective 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $271.12.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the 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 transaction, the executive vice president owned 31,898 shares in the company, valued at $7,256,795. This 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 currently owned by corporate insiders.

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.