National Pension Service Boosts Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• National Pension Service increased its stake in Lowe's Companies, Inc. by 6.2%, holding approximately 1,200,949 shares worth $280 million.
• Several institutional investors have made significant changes to their positions, with 74.06% of the stock now owned by institutional investors and hedge funds.
• Lowe's recently increased its quarterly dividend from $1.15 to $1.20 per share, reflecting a 2.0% yield and a payout ratio of 39.77%.

National Pension Service increased its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,200,949 shares of the home improvement retailer's stock after purchasing an additional 69,592 shares during the period. National Pension Service owned approximately 0.21% of Lowe's Companies worth $280,097,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Klingman & Associates LLC lifted its holdings in shares of Lowe's Companies by 32.7% in the 1st quarter. Klingman & Associates LLC now owns 2,270 shares of the home improvement retailer's stock worth $529,000 after purchasing an additional 560 shares in the last quarter. Dagco Inc. bought a new position in shares of Lowe's Companies in the 1st quarter worth $54,000. Resona Asset Management Co. Ltd. lifted its holdings in shares of Lowe's Companies by 7.9% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 189,420 shares of the home improvement retailer's stock worth $44,006,000 after purchasing an additional 13,843 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Lowe's Companies in the 1st quarter worth $187,000. Finally, Trajan Wealth LLC lifted its holdings in shares of Lowe's Companies by 10.7% in the 1st quarter. Trajan Wealth LLC now owns 21,315 shares of the home improvement retailer's stock worth $4,971,000 after purchasing an additional 2,066 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Stock Down 0.5%

LOW traded down $1.19 during trading hours on Friday, hitting $251.86. The stock had a trading volume of 3,025,751 shares, compared to its average volume of 2,874,602. The company's fifty day simple moving average is $226.61 and its 200 day simple moving average is $230.50. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01. The stock has a market cap of $141.15 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 2.39 and a beta of 0.89.

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 for the quarter, topping 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 company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same quarter last year, the firm posted $3.06 EPS. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 1.9%. Lowe's Companies's payout ratio is 39.77%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. DA Davidson dropped their price objective on 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. Stifel Nicolaus dropped their price objective on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. Guggenheim restated a "buy" rating and set a $300.00 price objective on shares of Lowe's Companies in a research note on Tuesday, July 22nd. Robert W. Baird dropped their price objective on 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. Finally, Morgan Stanley dropped their price objective on 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $270.68.

Insiders Place Their Bets

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president owned 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company's stock.

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.