Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by Premier Fund Managers Ltd

Key Points

• Premier Fund Managers Ltd reduced its stake in Lowe's Companies, Inc. by 6.8%, selling 17,605 shares, while still retaining a total of 240,095 shares valued at approximately $54.8 million.
• Multiple financial analysts have given Lowe's Companies mixed ratings, with the average rating being "Moderate Buy" and a consensus price target of $271.12.
• Lowe's announced an increase in its quarterly dividend to $1.20 per share, leading to an annualized yield of 2.09%, which reflects a positive change from the previous dividend of $1.15.

Premier Fund Managers Ltd decreased its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 240,095 shares of the home improvement retailer's stock after selling 17,605 shares during the period. Lowe's Companies accounts for 2.0% of Premier Fund Managers Ltd's investment portfolio, making the stock its 16th biggest position. Premier Fund Managers Ltd's holdings in Lowe's Companies were worth $54,829,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Lowe's Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock worth $6,483,558,000 after buying an additional 259,766 shares during the period. Geode Capital Management LLC lifted its position in 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 valued at $2,952,341,000 after purchasing an additional 245,876 shares during the last quarter. Northern Trust Corp raised 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 buying an additional 993,833 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 acquiring an additional 323,371 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Lowe's Companies by 2.0% during the 4th 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. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Down 1.1%

Shares of Lowe's Companies stock traded down $2.55 during trading hours on Wednesday, reaching $227.49. 2,047,133 shares of the stock traded hands, compared to its average volume of 2,644,854. The company has a 50 day moving average price of $222.93 and a 200 day moving average price of $232.12. The firm has a market capitalization of $127.49 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 2.17 and a beta of 0.90. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.06 EPS. Sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid 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 dividend on an annualized basis and a dividend yield of 2.11%. Lowe's Companies's payout ratio is currently 39.77%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LOW. DA Davidson dropped their price objective on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Wells Fargo & Company dropped their price objective on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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 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 transaction, the executive vice president owned 31,898 shares in the company, 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. Insiders own 0.27% of the company's stock.

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.