Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by one8zero8 LLC

Key Points

• one8zero8 LLC reduced its holdings in Lowe's Companies by 45.8% during the first quarter, now owning shares worth approximately $2.76 million.
• Institutional investors collectively own 74.06% of Lowe's stock, indicating strong institutional support for the company.
• Lowe's recently increased its quarterly dividend to $1.20 per share, reflecting a commitment to returning value to shareholders.

one8zero8 LLC cut its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 45.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,818 shares of the home improvement retailer's stock after selling 9,971 shares during the quarter. one8zero8 LLC's holdings in Lowe's Companies were worth $2,756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its position in Lowe's Companies by 1.0% in the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock valued at $6,483,558,000 after purchasing an additional 259,766 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lowe's Companies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock worth $2,952,341,000 after acquiring an additional 245,876 shares during the last quarter. Northern Trust Corp boosted its position in shares of Lowe's Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after purchasing an additional 993,833 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Lowe's Companies by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock valued at $1,242,793,000 after purchasing an additional 323,371 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Lowe's Companies by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 3,369,942 shares of the home improvement retailer's stock valued at $831,702,000 after purchasing an additional 66,300 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LOW has been the subject of several research reports. Truist Financial set a $264.00 target price on Lowe's Companies and gave the company a "buy" rating in a research report on Thursday, May 22nd. Telsey Advisory Group restated an "outperform" rating and issued a $305.00 price target on shares of Lowe's Companies in a research note on Wednesday, May 21st. Stifel Nicolaus decreased 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. Robert W. Baird lowered their price objective on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. 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 stock. According to MarketBeat, Lowe's Companies has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

Insider Activity at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the 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 sale, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

Lowe's Companies Stock Performance

Lowe's Companies stock traded down $0.55 during midday trading on Wednesday, reaching $229.50. The company's stock had a trading volume of 665,322 shares, compared to its average volume of 2,634,913. The firm has a market capitalization of $128.62 billion, a PE ratio of 19.01, a P/E/G ratio of 2.17 and a beta of 0.90. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The stock's 50 day simple moving average is $222.93 and its 200 day simple moving average is $232.12.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly 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 business had revenue of $20.93 billion for the quarter, compared to analysts' expectations of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.06 EPS. Equities analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.09%. Lowe's Companies's dividend payout ratio is currently 39.77%.

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.