Northwest & Ethical Investments L.P. Sells 18,112 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Northwest & Ethical Investments L.P. reduced its holdings in Lowe's Companies by 42.4%, selling 18,112 shares to own a total of 24,648 shares, valued at approximately $5.75 million.
• Lowe's Companies reported earnings of $2.92 per share for the latest quarter, exceeding analysts' expectations, but experienced a 2.0% decline in revenue year over year.
• The company announced an increase in its quarterly dividend to $1.20 per share, reflecting a consistent dividend payout strategy with an annual yield of 1.9%.

Northwest & Ethical Investments L.P. lessened its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 42.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,648 shares of the home improvement retailer's stock after selling 18,112 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Lowe's Companies were worth $5,749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Steward Partners Investment Advisory LLC increased its stake in Lowe's Companies by 0.3% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 74,447 shares of the home improvement retailer's stock valued at $17,363,000 after purchasing an additional 212 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Lowe's Companies by 0.4% in the 1st quarter. Raymond James Financial Inc. now owns 1,279,099 shares of the home improvement retailer's stock worth $298,324,000 after acquiring an additional 5,053 shares in the last quarter. Somerset Group LLC grew its stake in shares of Lowe's Companies by 9.3% in the 1st quarter. Somerset Group LLC now owns 4,486 shares of the home improvement retailer's stock worth $1,046,000 after acquiring an additional 380 shares in the last quarter. Forvis Mazars Wealth Advisors LLC grew its stake in shares of Lowe's Companies by 3.3% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 36,211 shares of the home improvement retailer's stock worth $8,446,000 after acquiring an additional 1,142 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its stake in shares of Lowe's Companies by 0.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 78,913 shares of the home improvement retailer's stock worth $18,405,000 after acquiring an additional 641 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Down 0.5%

Shares of NYSE:LOW opened at $251.86 on Monday. The firm has a market capitalization of $141.15 billion, a PE ratio of 20.87, a P/E/G ratio of 2.38 and a beta of 0.89. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The company has a 50-day moving average price of $226.61 and a two-hundred day moving average price of $230.05.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. The firm 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%. The company's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $3.06 earnings per share. Analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date was Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Insider Activity at Lowe's Companies

In other 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

LOW has been the subject of several recent analyst reports. Gordon Haskett upgraded shares of Lowe's Companies to a "hold" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. reduced their target price on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. KeyCorp upgraded 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. Guggenheim reiterated a "buy" rating and issued a $300.00 target price on shares of Lowe's Companies in a research note on Tuesday, July 22nd. Finally, DA Davidson reduced their price target 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $270.68.

About Lowe's Companies

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.

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