Massachusetts Financial Services Co. MA Sells 168,583 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Massachusetts Financial Services Co. MA cut its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,977,736 shares of the home improvement retailer's stock after selling 168,583 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.25% of Lowe's Companies worth $1,627,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Lowe's Companies by 119.7% in the 4th 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 increased its holdings in shares of Lowe's Companies by 31.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after buying an additional 259 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Lowe's Companies by 72.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,429 shares of the home improvement retailer's stock worth $846,000 after buying an additional 1,444 shares during the last quarter. LBP AM SA bought a new position in shares of Lowe's Companies in the 4th quarter worth $3,502,000. Finally, Hills Bank & Trust Co increased its holdings in shares of Lowe's Companies by 7.1% in the 4th quarter. Hills Bank & Trust Co now owns 1,839 shares of the home improvement retailer's stock worth $454,000 after buying an additional 122 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe's Companies Price Performance

NYSE LOW traded down $7.22 during trading hours on Tuesday, reaching $215.18. 2,909,035 shares of the company's stock traded hands, compared to its average volume of 2,498,252. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The firm has a market cap of $120.60 billion, a PE ratio of 17.83, a PEG ratio of 2.10 and a beta of 0.90. The firm has a 50-day simple moving average of $223.93 and a 200 day simple moving average of $233.72.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. The business had revenue of $20.93 billion during 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%. Lowe's Companies's revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $3.06 EPS. Sell-side analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a positive change 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 2.23%. Lowe's Companies's payout ratio is currently 38.11%.

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

Analyst Ratings Changes

LOW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a report on Wednesday, May 21st. Mizuho reaffirmed an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a report on Friday, June 13th. DA Davidson reduced their target price on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Finally, Piper Sandler reduced their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $271.12.

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.