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

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

Several other large investors also recently added to or reduced their stakes in LOW. Brighton Jones LLC boosted its position in Lowe's Companies by 119.7% during the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after purchasing an additional 17,413 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Lowe's Companies by 31.6% during 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 period. Proficio Capital Partners LLC boosted its holdings in shares of Lowe's Companies by 72.7% during 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 period. Banco Santander S.A. bought a new stake in shares of Lowe's Companies during the 4th quarter worth $831,000. Finally, OFI Invest Asset Management bought a new stake in Lowe's Companies during the fourth quarter valued at about $64,000. 74.06% of the stock is owned by institutional investors.

Lowe's Companies Stock Performance

Shares of NYSE LOW traded down $0.73 during midday trading on Wednesday, reaching $222.94. 383,415 shares of the company traded hands, compared to its average volume of 2,492,132. The firm has a market cap of $124.94 billion, a PE ratio of 18.46, a PEG ratio of 2.13 and a beta of 0.90. The stock's 50-day simple moving average is $224.06 and its 200-day simple moving average is $234.62. Lowe's Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same period last year, the firm posted $3.06 EPS. The firm's quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be given a $1.20 dividend. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.15%. Lowe's Companies's payout ratio is presently 38.11%.

Insider Transactions at Lowe's Companies

In related 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 value of $257,075.00. Following the completion of the transaction, the executive vice president directly owned 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Robert W. Baird decreased their price target on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Citigroup restated 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. Morgan Stanley decreased their target price on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Sanford C. Bernstein set a $266.00 price objective on Lowe's Companies and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company reduced their price objective on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. 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 stock currently has an average rating of "Moderate Buy" and an average target price of $271.12.

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.