Truist Financial Corp Sells 17,657 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Truist Financial Corp reduced its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 531,294 shares of the home improvement retailer's stock after selling 17,657 shares during the quarter. Truist Financial Corp owned 0.09% of Lowe's Companies worth $123,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC lifted its stake in shares of Lowe's Companies by 1.0% in the 4th 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 lifted its stake in shares of Lowe's Companies by 2.1% in 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 acquiring an additional 245,876 shares during the last quarter. Norges Bank bought a new stake in shares of Lowe's Companies in the 4th quarter valued at about $1,842,954,000. Northern Trust Corp lifted its stake in shares of Lowe's Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after acquiring an additional 993,833 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 acquiring an additional 323,371 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Performance

Shares of Lowe's Companies stock traded up $1.06 during midday trading on Friday, hitting $228.00. The company had a trading volume of 1,777,904 shares, compared to its average volume of 2,500,517. The stock has a market capitalization of $127.78 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.16 and a beta of 0.90. The company has a 50 day moving average of $223.98 and a 200 day moving average of $235.03. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week 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. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The business had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period last year, the business posted $3.06 EPS. The company's revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS 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 dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.11%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 38.11%.

Insider Buying and Selling

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction 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. This trade represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LOW shares. DA Davidson lowered their target price on Lowe's Companies from $270.00 to $240.00 and set a "neutral" 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 on the stock in a report on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 target price on Lowe's Companies and gave the stock an "outperform" rating in a report 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 on the stock in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. reduced their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $271.12.

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.