M&T Bank Corp Has $72.41 Million Stake in Lowe's Companies, Inc. (NYSE:LOW)

M&T Bank Corp cut its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.5% during the first quarter, according to its most recent disclosure with the SEC. 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 about 0.06% of Lowe's Companies worth $72,414,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LOW. Wood Tarver Financial Group LLC acquired a new stake in shares of Lowe's Companies in the fourth quarter worth $25,000. Fairway Wealth LLC bought a new position in Lowe's Companies during the first quarter worth $32,000. Caisse Des Depots ET Consignations acquired a new position in shares of Lowe's Companies in the 4th quarter valued at $33,000. Orion Capital Management LLC acquired a new position in shares of Lowe's Companies in the 4th quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Lowe's Companies in the 1st quarter valued at $36,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Stock Down 0.7%

Lowe's Companies stock traded down $1.51 during midday trading on Tuesday, hitting $223.48. 2,671,498 shares of the stock were exchanged, compared to its average volume of 2,502,154. The company has a fifty day simple moving average of $224.06 and a two-hundred day simple moving average of $234.70. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The stock has a market capitalization of $125.25 billion, a PE ratio of 18.52, a P/E/G ratio of 2.16 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 period last year, the company posted $3.06 EPS. As a group, equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Insider Buying and Selling

In other Lowe's Companies 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 transaction of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LOW. DA Davidson dropped their target price on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on shares of 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. Citigroup reiterated a "neutral" rating and set a $253.00 target price (down previously from $269.00) on shares of Lowe's Companies in a research report on Wednesday, May 14th. Finally, Truist Financial set a $264.00 target price on shares of Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. One 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's stock. According to data from MarketBeat.com, the company presently has a consensus 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.