Lowe's Companies, Inc. (NYSE:LOW) Stake Boosted by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Lowe's Companies by 7.9%, totaling 189,420 shares valued at approximately $44 million.
• Lowe’s declared a quarterly dividend increase from $1.15 to $1.20, representing a yield of 2.0% and a payout ratio of 39.77%.
• Analysts have mixed price targets for Lowe's stock, with a consensus target of $270.68 and ratings ranging from "sell" to "buy."

Resona Asset Management Co. Ltd. raised its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 7.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,420 shares of the home improvement retailer's stock after acquiring an additional 13,843 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Lowe's Companies were worth $44,006,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Gen Wealth Partners Inc grew its position in Lowe's Companies by 1.9% in the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock valued at $534,000 after acquiring an additional 40 shares in the last quarter. Second Line Capital LLC boosted its stake in shares of Lowe's Companies by 0.9% during the 4th quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer's stock valued at $1,183,000 after buying an additional 44 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of Lowe's Companies by 0.8% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock valued at $1,357,000 after buying an additional 47 shares during the last quarter. Fielder Capital Group LLC boosted its stake in shares of Lowe's Companies by 5.9% during the 1st quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock valued at $202,000 after buying an additional 48 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC boosted its stake in shares of Lowe's Companies by 1.1% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer's stock valued at $1,066,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Price Performance

Shares of LOW traded down $1.19 during trading hours on Friday, reaching $251.86. 3,025,751 shares of the company's stock traded hands, compared to its average volume of 2,874,602. The firm has a market capitalization of $141.15 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 2.39 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 business's fifty day simple moving average is $226.61 and its two-hundred day simple moving average is $230.50.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. The company had revenue of $20.93 billion for 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%. The company's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $3.06 earnings per share. On average, equities research analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.9%. This is a boost 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 presently 39.77%.

Insider Buying and Selling

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction dated 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 approximately $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on LOW shares. Truist Financial set a $264.00 target price on Lowe's Companies and gave the company a "buy" rating in a research note on Thursday, May 22nd. Wells Fargo & Company reduced their target price on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Robert W. Baird reduced their target price on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Royal Bank Of Canada reduced their target price on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research note on Thursday, May 22nd. Finally, KeyCorp upgraded 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. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.