Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 30.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,583 shares of the home improvement retailer’s stock after selling 2,002 shares during the quarter. Penserra Capital Management LLC’s holdings in Lowe’s Companies were worth $1,068,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wood Tarver Financial Group LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $25,000. Caisse Des Depots ET Consignations acquired a new position in Lowe’s Companies during the fourth quarter worth approximately $33,000. Orion Capital Management LLC acquired a new position in Lowe’s Companies during the fourth quarter worth approximately $36,000. Inlight Wealth Management LLC purchased a new stake in shares of Lowe’s Companies during the first quarter worth approximately $36,000. Finally, IFS Advisors LLC raised its stake in shares of Lowe’s Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 60 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on LOW. Stifel Nicolaus cut their price target on Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Tuesday, May 27th. Truist Financial set a $264.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a report on Thursday, May 22nd. DA Davidson cut their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Royal Bank Of Canada cut their price objective on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research report on Thursday, May 22nd. Finally, Morgan Stanley cut their price objective 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. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $271.12.

Insider Buying and Selling at Lowe’s Companies

In other 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 value of $257,075.00. Following the transaction, the executive vice president directly owned 31,898 shares of the company’s stock, valued at $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.27% of the stock is owned by corporate insiders.

Lowe’s Companies Price Performance

LOW opened at $223.48 on Wednesday. The stock has a market capitalization of $125.25 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 2.13 and a beta of 0.90. The business has a 50-day moving average of $224.06 and a two-hundred day moving average of $234.62. Lowe’s Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly 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 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 revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.06 EPS. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, July 23rd. Lowe’s Companies’s payout ratio is currently 38.11%.

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.