Prudential PLC Sells 5,958 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Prudential PLC decreased its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 40.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,801 shares of the home improvement retailer's stock after selling 5,958 shares during the quarter. Prudential PLC's holdings in Lowe's Companies were worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. boosted its holdings in Lowe's Companies by 7.9% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 189,420 shares of the home improvement retailer's stock valued at $44,006,000 after acquiring an additional 13,843 shares during the period. Stone House Investment Management LLC purchased a new stake in Lowe's Companies during the 1st quarter valued at about $187,000. Trajan Wealth LLC boosted its holdings in Lowe's Companies by 10.7% during the 1st quarter. Trajan Wealth LLC now owns 21,315 shares of the home improvement retailer's stock valued at $4,971,000 after acquiring an additional 2,066 shares during the period. Public Sector Pension Investment Board boosted its holdings in Lowe's Companies by 8.1% during the 1st quarter. Public Sector Pension Investment Board now owns 489,388 shares of the home improvement retailer's stock valued at $114,140,000 after acquiring an additional 36,815 shares during the period. Finally, AIA Group Ltd purchased a new stake in Lowe's Companies during the 1st quarter valued at about $577,000. Institutional investors own 74.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LOW shares. JPMorgan Chase & Co. dropped their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. DA Davidson cut their target price on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a research note on Friday, April 25th. Wells Fargo & Company cut their target price on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Stifel Nicolaus cut their target price on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. One research 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $270.68.

Lowe's Companies Price Performance

LOW opened at $253.18 on Friday. The stock has a 50-day moving average price of $226.08 and a 200-day moving average price of $230.59. The firm has a market cap of $141.89 billion, a PE ratio of 20.98, a P/E/G ratio of 2.42 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 posted its quarterly earnings results 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 firm had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. Lowe's Companies's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.06 EPS. As a group, sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is presently 39.77%.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies 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 completion of the transaction, the executive vice president owned 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their position. 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 currently owned by corporate insiders.

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.

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