TD Asset Management Inc Has $50.55 Million Stake in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• TD Asset Management Inc has reduced its stake in Lowe's Companies by 0.6%, holding 216,758 shares worth approximately $50.55 million after selling 1,408 shares in the first quarter.
• Analysts have adjusted their price targets for Lowe's Companies, with JPMorgan Chase lowering it from $300 to $263, while the average target now stands at $271.12.
• Lowe's Companies announced an increase in its quarterly dividend to $1.20, reflecting a boost from the previous $1.15, with a current annualized yield of 2.09%.

TD Asset Management Inc lowered its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 216,758 shares of the home improvement retailer's stock after selling 1,408 shares during the period. TD Asset Management Inc's holdings in Lowe's Companies were worth $50,554,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LOW. Wood Tarver Financial Group LLC acquired a new position in shares of Lowe's Companies in the 4th quarter worth approximately $25,000. Fairway Wealth LLC acquired a new position in Lowe's Companies during the 1st quarter worth $32,000. Orion Capital Management LLC acquired a new position in shares of Lowe's Companies in the 4th quarter valued at $36,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe's Companies in the 1st quarter valued at $36,000. Finally, IFS Advisors LLC lifted its stake in shares of Lowe's Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analyst Weigh In

LOW has been the subject of a number of recent analyst reports. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe's Companies and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Mizuho reiterated an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a report on Friday, June 13th. Royal Bank Of Canada decreased their price objective on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a report on Thursday, May 22nd. Wells Fargo & Company decreased their price objective on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, Truist Financial set a $264.00 price objective on Lowe's Companies and gave the company a "buy" rating in a report on Thursday, May 22nd. 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $271.12.

Lowe's Companies Price Performance

NYSE:LOW traded down $2.55 during mid-day trading on Wednesday, reaching $227.49. The stock had a trading volume of 2,047,133 shares, compared to its average volume of 2,644,854. The stock has a 50-day simple moving average of $222.93 and a two-hundred day simple moving average of $232.12. The stock has a market capitalization of $127.49 billion, a PE ratio of 18.85, a P/E/G ratio of 2.17 and a beta of 0.90. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to analysts' expectations of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company's revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.06 earnings per share. Equities analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a $1.20 dividend. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.11%. Lowe's Companies's payout ratio is presently 39.77%.

Insider Transactions at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were 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 $7,256,795. The trade was 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 at this hyperlink. 0.27% of the stock is currently owned by 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.