Y Intercept Hong Kong Ltd Grows Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Y Intercept Hong Kong Ltd increased its holdings in Lowe's Companies by 116.9%, acquiring an additional 1,670 shares, bringing its total share count to 3,099, valued at approximately $723,000.
• Institutional investors collectively own 74.06% of Lowe's stock, with notable increases from firms like Kovitz Investment Group (350.2% raise) and GAMMA Investing (26,796.0%).
• Lowe's Companies declared a quarterly dividend of $1.20 per share, a boost from the previous quarterly dividend of $1.15, indicating a solid annualized yield of 2.12%.

Y Intercept Hong Kong Ltd increased its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 116.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,099 shares of the home improvement retailer's stock after purchasing an additional 1,670 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Lowe's Companies were worth $723,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of LOW. FMR LLC grew its stake in 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 worth $6,483,558,000 after acquiring an additional 259,766 shares in the last quarter. Geode Capital Management LLC raised its position in 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 in the last quarter. Northern Trust Corp raised 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 valued at $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 raised its position in Lowe's Companies by 6.9% during 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 in the last quarter. Finally, Franklin Resources Inc. raised its position in Lowe's Companies by 2.0% during the 4th quarter. Franklin Resources Inc. now owns 3,369,942 shares of the home improvement retailer's stock valued at $831,702,000 after purchasing an additional 66,300 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LOW shares. JPMorgan Chase & Co. cut their price target 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. DA Davidson cut their price target on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Royal Bank Of Canada cut 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. Citigroup reiterated a "neutral" rating and issued a $253.00 price target (down from $269.00) on shares of Lowe's Companies in a report on Wednesday, May 14th. Finally, Mizuho reaffirmed an "outperform" rating and issued a $280.00 price objective on shares of Lowe's Companies in a research report on Friday, June 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Lowe's Companies currently has a consensus rating of "Moderate Buy" and an average target price of $271.12.

Insider Activity at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president owned 31,898 shares of the company's stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company's stock.

Lowe's Companies Price Performance

NYSE LOW traded down $2.55 during trading hours on Wednesday, hitting $227.49. 2,047,133 shares of the company's stock traded hands, compared to its average volume of 2,378,462. The firm's 50-day moving average is $222.93 and its 200-day moving average is $232.09. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The company has a market capitalization of $127.49 billion, a PE ratio of 18.85, a PEG ratio of 2.17 and a beta of 0.90.

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

Lowe's Companies Increases Dividend

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

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.