Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,394,993 shares of the home improvement retailer’s stock after selling 8,437 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.24% of Lowe’s Companies worth $355,347,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in LOW. Silverlake Wealth Management LLC boosted its position in shares of Lowe’s Companies by 16.0% in the 1st quarter. Silverlake Wealth Management LLC now owns 2,171 shares of the home improvement retailer’s stock valued at $553,000 after purchasing an additional 300 shares during the period. Naviter Wealth LLC boosted its position in shares of Lowe’s Companies by 20.5% in the 1st quarter. Naviter Wealth LLC now owns 6,217 shares of the home improvement retailer’s stock valued at $1,584,000 after purchasing an additional 1,056 shares during the period. Verum Partners LLC boosted its position in shares of Lowe’s Companies by 2.5% in the 1st quarter. Verum Partners LLC now owns 7,224 shares of the home improvement retailer’s stock valued at $1,840,000 after purchasing an additional 173 shares during the period. MV Capital Management Inc. boosted its position in shares of Lowe’s Companies by 6.0% in the 1st quarter. MV Capital Management Inc. now owns 1,156 shares of the home improvement retailer’s stock valued at $294,000 after purchasing an additional 65 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Lowe’s Companies in the 1st quarter valued at about $101,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

NYSE:LOW traded up $1.59 during trading hours on Wednesday, reaching $215.29. 388,987 shares of the company traded hands, compared to its average volume of 2,534,751. The firm’s 50-day moving average is $224.97 and its 200-day moving average is $228.40. The stock has a market cap of $122.68 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The firm had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. Lowe’s Companies’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.67 EPS. As a group, research analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is 35.34%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Evercore ISI decreased their target price on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research report on Tuesday. Citigroup reduced their price objective on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $246.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Finally, Zelman & Associates reaffirmed a “neutral” rating and set a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $250.41.

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.