Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 9.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,319,682 shares of the home improvement retailer's stock after selling 139,597 shares during the period. The Manufacturers Life Insurance Company owned about 0.23% of Lowe's Companies worth $325,698,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in LOW. Invst LLC purchased a new stake in shares of Lowe's Companies in the 3rd quarter valued at $255,000. Virtu Financial LLC increased its stake in Lowe's Companies by 66.1% during the third quarter. Virtu Financial LLC now owns 5,474 shares of the home improvement retailer's stock worth $1,483,000 after purchasing an additional 2,178 shares during the period. Tudor Financial Inc. acquired a new stake in shares of Lowe's Companies during the third quarter worth about $1,877,000. Anchor Investment Management LLC grew its holdings in shares of Lowe's Companies by 2.6% in the third quarter. Anchor Investment Management LLC now owns 45,537 shares of the home improvement retailer's stock valued at $12,334,000 after purchasing an additional 1,161 shares in the last quarter. Finally, World Investment Advisors LLC grew its holdings in shares of Lowe's Companies by 7.6% in the third quarter. World Investment Advisors LLC now owns 23,714 shares of the home improvement retailer's stock valued at $6,423,000 after purchasing an additional 1,670 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Stock Performance

Shares of Lowe's Companies stock opened at $220.95 on Monday. The company's fifty day moving average is $229.29 and its two-hundred day moving average is $250.63. Lowe's Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The company has a market capitalization of $123.67 billion, a P/E ratio of 18.43, a PEG ratio of 1.96 and a beta of 1.07.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.10. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $18.55 billion during the quarter, compared to analysts' expectations of $18.29 billion. As a group, equities analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 2.08%. Lowe's Companies's payout ratio is currently 37.67%.

Analysts Set New Price Targets

LOW has been the subject of several recent research reports. KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target for the company in a research report on Friday. Piper Sandler decreased their target price on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Telsey Advisory Group restated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a report on Tuesday, April 15th. BNP Paribas raised Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. Finally, Truist Financial lowered their price objective on Lowe's Companies from $295.00 to $258.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $278.21.

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.

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe's Companies, Inc. (NYSE:LOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.