Second Half Financial Partners LLC Sells 5,665 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Second Half Financial Partners LLC has reduced its stake in Lowe's Companies by 84.5%, selling 5,665 shares and now holding only 1,037 shares valued at approximately $242,000.
• Lowe's Companies announced an increase in its quarterly dividend from $1.15 to $1.20 per share, reflecting a positive change in its shareholder return strategy.
• Analysts have set a consensus target price of $271.12 for Lowe's stock, with a mix of ratings including 17 buy ratings and 1 sell rating.

Second Half Financial Partners LLC reduced its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 84.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,037 shares of the home improvement retailer's stock after selling 5,665 shares during the quarter. Second Half Financial Partners LLC's holdings in Lowe's Companies were worth $242,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. FMR LLC grew its position in Lowe's Companies by 1.0% in the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock valued at $6,483,558,000 after acquiring an additional 259,766 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Lowe's Companies by 2.1% during 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 increased its position in 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 purchasing an additional 993,833 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 purchasing an additional 323,371 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Lowe's Companies by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 3,369,942 shares of the home improvement retailer's stock valued at $831,702,000 after buying an additional 66,300 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LOW shares. Wells Fargo & Company lowered 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. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price for the company in a report on Friday, April 25th. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research note on Wednesday, May 21st. Royal Bank Of Canada reduced their price target on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a report on Thursday, May 22nd. Finally, Citigroup reiterated a "neutral" rating and issued a $253.00 price objective (down previously from $269.00) on shares of Lowe's Companies in a report on Wednesday, May 14th. 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 currently has an average rating of "Moderate Buy" and a consensus target price of $271.12.

Lowe's Companies Trading Down 1.4%

Shares of LOW stock traded down $3.09 on Thursday, hitting $224.34. 1,116,609 shares of the stock were exchanged, compared to its average volume of 2,633,516. The firm's 50 day moving average is $222.93 and its two-hundred day moving average is $232.09. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01. The firm has a market capitalization of $125.73 billion, a PE ratio of 18.61, a P/E/G ratio of 2.17 and a beta of 0.90.

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 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $21.09 billion. During the same quarter in the previous year, the company earned $3.06 earnings per share. Lowe's Companies's revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. 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 yield of 2.14%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio is currently 39.77%.

Insiders Place Their Bets

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm'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 transaction, the executive vice president directly owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.27% of the stock is 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.