TIAA Trust National Association Has $20.81 Million Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• TIAA Trust National Association has reduced its stake in Lowe's Companies, Inc. by 33.0%, owning 89,216 shares valued at approximately $20.81 million as of its latest SEC filing.
• Lowe's recently reported a quarterly EPS of $2.92, surpassing estimates, though its revenue declined by 2.0% year-over-year to $20.93 billion.
• The company announced an increase in its quarterly dividend from $1.15 to $1.20 per share, reflecting a 2.1% yield for shareholders.

TIAA Trust National Association lessened its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 33.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,216 shares of the home improvement retailer's stock after selling 43,910 shares during the quarter. TIAA Trust National Association's holdings in Lowe's Companies were worth $20,808,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of LOW. Brighton Jones LLC lifted its stake in shares of Lowe's Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock valued at $7,889,000 after acquiring an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Lowe's Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after purchasing an additional 259 shares during the last quarter. Arete Wealth Advisors LLC raised its position in Lowe's Companies by 15.9% during the 4th quarter. Arete Wealth Advisors LLC now owns 3,664 shares of the home improvement retailer's stock worth $904,000 after purchasing an additional 503 shares during the last quarter. Prudential PLC raised its position in Lowe's Companies by 18.4% during the 4th quarter. Prudential PLC now owns 14,759 shares of the home improvement retailer's stock worth $3,643,000 after purchasing an additional 2,289 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in Lowe's Companies during the 4th quarter worth $43,380,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Analyst Ratings Changes

LOW has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research report on Wednesday, May 21st. Morgan Stanley lowered their target price on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Finally, Citigroup lowered their target price on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $270.68.

Lowe's Companies Price Performance

Shares of LOW opened at $226.33 on Friday. The stock has a 50-day moving average of $223.03 and a 200-day moving average of $231.57. The company has a market cap of $126.84 billion, a PE ratio of 18.75, a P/E/G ratio of 2.14 and a beta of 0.89. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results 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. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $3.06 EPS. Analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.1%. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Insider Transactions at Lowe's Companies

In other Lowe's Companies 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 transaction of $257,075.00. Following the completion of the transaction, the executive vice president owned 31,898 shares in the company, valued at approximately $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 accessible through the SEC website. Company insiders own 0.27% of the company's stock.

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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