Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board reduced its stake in Lowe's Companies by 99.4%, selling 1,239,982 shares and leaving them with only 7,828 shares worth approximately $1.83 million.
• Analyst ratings for Lowe's varied, with target prices set between $260.00 and $305.00, while the stock currently holds an average rating of "Moderate Buy".
• Lowe's recently declared a quarterly dividend of $1.20 per share, an increase from its previous dividend of $1.15, representing a 2.0% yield.

Ontario Teachers Pension Plan Board lessened its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 99.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,828 shares of the home improvement retailer's stock after selling 1,239,982 shares during the period. Ontario Teachers Pension Plan Board's holdings in Lowe's Companies were worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Wood Tarver Financial Group LLC purchased a new stake in shares of Lowe's Companies in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC purchased a new stake in shares of Lowe's Companies in the first quarter valued at approximately $32,000. Orion Capital Management LLC purchased a new stake in shares of Lowe's Companies in the fourth quarter valued at approximately $36,000. Inlight Wealth Management LLC purchased a new stake in shares of Lowe's Companies in the first quarter valued at approximately $36,000. Finally, IFS Advisors LLC grew its position in shares of Lowe's Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Performance

Shares of LOW traded up $4.48 during midday trading on Tuesday, hitting $244.33. The company had a trading volume of 1,181,698 shares, compared to its average volume of 2,646,895. The company's 50-day simple moving average is $224.68 and its 200-day simple moving average is $230.41. The firm has a market capitalization of $136.93 billion, a P/E ratio of 20.26, a P/E/G ratio of 2.28 and a beta of 0.89. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data 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 negative return on equity of 49.12% and a net margin of 8.22%. The business had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter last year, the business posted $3.06 EPS. The business's quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were issued a dividend of $1.20 per share. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date was Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.0%. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Insider Buying and Selling

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction 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 approximately $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LOW. Stifel Nicolaus dropped their price target on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. Robert W. Baird cut 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. Morgan Stanley cut their price target on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Wells Fargo & Company cut their price target on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Lowe's Companies presently has an average rating of "Moderate Buy" and an average price target of $270.68.

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.