M&T Bank Corp Sells 21,661 Shares of Lowe's Companies, Inc. (NYSE:LOW)

M&T Bank Corp decreased its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 310,484 shares of the home improvement retailer's stock after selling 21,661 shares during the quarter. M&T Bank Corp owned 0.06% of Lowe's Companies worth $72,414,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LOW. Wood Tarver Financial Group LLC purchased a new position in Lowe's Companies during the 4th quarter worth approximately $25,000. Fairway Wealth LLC purchased a new position in Lowe's Companies during the 1st quarter worth approximately $32,000. Caisse Des Depots ET Consignations purchased a new position in Lowe's Companies during the 4th quarter worth approximately $33,000. Orion Capital Management LLC purchased a new position in Lowe's Companies during the 4th quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Lowe's Companies during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Mizuho reiterated an "outperform" rating and set a $280.00 price objective on shares of Lowe's Companies in a research report on Friday, June 13th. Robert W. Baird decreased their target price on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price for the company in a research note on Friday, April 25th. Finally, Citigroup reissued a "neutral" rating and set a $253.00 target price (down previously from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. 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 company. According to data from MarketBeat, Lowe's Companies currently has an average rating of "Moderate Buy" and a consensus price target of $271.12.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction 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 trade represents a 3.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by company insiders.

Lowe's Companies Price Performance

Shares of LOW stock traded down $3.36 on Friday, hitting $224.56. The company's stock had a trading volume of 543,046 shares, compared to its average volume of 2,493,392. Lowe's Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The firm's fifty day moving average price is $224.20 and its 200-day moving average price is $234.42. The stock has a market capitalization of $125.85 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.13 and a beta of 0.90.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate 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 net margin of 8.22% and a negative return on equity of 49.12%. The business's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.06 EPS. Analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.14%. The ex-dividend date is Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

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.