Sunbelt Securities Inc. Decreases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Sunbelt Securities Inc. lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,775 shares of the home improvement retailer’s stock after selling 267 shares during the quarter. Sunbelt Securities Inc.’s holdings in Lowe’s Companies were worth $1,580,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LOW. FMR LLC boosted its stake in shares of Lowe’s Companies by 1.0% during 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 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 purchasing an additional 245,876 shares during the last quarter. Norges Bank acquired a new position in Lowe’s Companies in the fourth quarter valued at about $1,842,954,000. Northern Trust Corp boosted its position in shares of 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Lowe’s Companies by 6.9% in the fourth 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 buying an additional 323,371 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $223.66 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The company has a market capitalization of $125.35 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.09 and a beta of 0.92. The stock has a fifty day moving average of $223.18 and a two-hundred day moving average of $236.26.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.06 EPS. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal 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 given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.15%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is 38.11%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Sanford C. Bernstein set a $266.00 price objective on Lowe’s Companies and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Robert W. Baird reduced their price target on Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research 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 research note on Thursday, May 8th. Piper Sandler cut their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, DA Davidson reduced their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $271.12.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the transaction, the executive vice president now directly owns 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.27% of the stock is owned by company insiders.

About Lowe’s Companies

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.