Russell Investments Group Ltd. Has $120.85 Million Stake in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Russell Investments Group Ltd. reduced its stake in Lowe's Companies by 6.9%, selling 38,421 shares and now holding 519,225 shares valued at $120.8 million.
• Lowe's recently declared a quarterly dividend increase to $1.20 per share, representing an annual yield of 2.0% and a payout ratio of 39.77%.
• Analysts maintain a consensus rating of "Moderate Buy" for Lowe's stock, with target prices ranging from $242 to $270.68.

Russell Investments Group Ltd. decreased its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 519,225 shares of the home improvement retailer's stock after selling 38,421 shares during the period. Russell Investments Group Ltd. owned about 0.09% of Lowe's Companies worth $120,849,000 at the end of the most recent quarter.

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

Lowe's Companies Trading Down 0.5%

LOW traded down $1.19 on Friday, reaching $251.86. The company had a trading volume of 3,025,751 shares, compared to its average volume of 2,689,489. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01. The company has a market capitalization of $141.15 billion, a P/E ratio of 20.87, a PEG ratio of 2.42 and a beta of 0.89. The company has a fifty day moving average of $226.08 and a 200-day moving average of $230.59.

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 earnings per share for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the prior year, the company earned $3.06 EPS. Lowe's Companies's revenue was down 2.0% on a year-over-year basis. Research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were paid a dividend of $1.20 per share. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, July 23rd. Lowe's Companies's payout ratio is currently 39.77%.

Insider Buying and Selling

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LOW shares. JPMorgan Chase & Co. dropped 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 research report on Tuesday, May 6th. KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target for the company in a research report on Friday, April 25th. Truist Financial set a $264.00 price objective 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 objective on shares of Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley decreased their price objective on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $270.68.

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.