Lowe's Companies, Inc. (NYSE:LOW) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Lowe's Companies by 10.7%, acquiring an additional 98,574 shares, bringing its total to over 1 million shares valued at approximately $238.6 million.
• Lowe's Companies reported $2.92 EPS for the last quarter, surpassing estimates slightly, although its revenue declined 2.0% year-over-year, totaling $20.93 billion.
• The company recently increased its quarterly dividend from $1.15 to $1.20, representing a 2.0% dividend yield and a payout ratio of 39.77%.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,022,959 shares of the home improvement retailer's stock after acquiring an additional 98,574 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Lowe's Companies worth $238,585,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wood Tarver Financial Group LLC acquired a new position in shares of Lowe's Companies during the 4th quarter worth about $25,000. Fairway Wealth LLC acquired a new position in shares of Lowe's Companies during the 1st quarter worth about $32,000. Orion Capital Management LLC acquired a new position in shares of Lowe's Companies during the 4th quarter worth about $36,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe's Companies during the 1st quarter worth about $36,000. Finally, IFS Advisors LLC boosted its position in shares of Lowe's Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 60 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LOW. Royal Bank Of Canada lowered their price objective 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. Morgan Stanley reduced their target price on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Stifel Nicolaus reduced their target price on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. Citigroup reduced their target price on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Finally, Mizuho reissued an "outperform" rating and issued a $280.00 target price on shares of Lowe's Companies in a report on Friday, June 13th. One research 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $270.68.

Lowe's Companies Price Performance

NYSE LOW traded up $2.81 on Friday, hitting $241.37. 2,746,101 shares of the company's stock were exchanged, compared to its average volume of 2,652,532. The firm's 50-day moving average price is $224.39 and its two-hundred day moving average price is $230.97. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The firm has a market cap of $135.27 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 2.25 and a beta of 0.89.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter in the previous year, the firm posted $3.06 EPS. The firm's quarterly revenue was down 2.0% on a year-over-year basis. On average, research analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is presently 39.77%.

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.27% of the company's stock.

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.