Sumitomo Mitsui Trust Holdings Inc. Has $355.35 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,394,993 shares of the home improvement retailer’s stock after selling 8,437 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Lowe’s Companies were worth $355,347,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LOW. Axxcess Wealth Management LLC grew its stake in shares of Lowe’s Companies by 64.9% during the third quarter. Axxcess Wealth Management LLC now owns 14,873 shares of the home improvement retailer’s stock worth $3,091,000 after purchasing an additional 5,856 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Lowe’s Companies by 6.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 683,598 shares of the home improvement retailer’s stock valued at $142,079,000 after acquiring an additional 43,400 shares during the period. Kingfisher Capital LLC grew its stake in Lowe’s Companies by 0.6% in the third quarter. Kingfisher Capital LLC now owns 17,683 shares of the home improvement retailer’s stock valued at $3,675,000 after acquiring an additional 114 shares during the period. KPP Advisory Services LLC acquired a new position in Lowe’s Companies in the third quarter valued at about $453,000. Finally, JT Stratford LLC grew its stake in Lowe’s Companies by 22.8% in the third quarter. JT Stratford LLC now owns 3,374 shares of the home improvement retailer’s stock valued at $701,000 after acquiring an additional 627 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LOW. Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Zelman & Associates reissued a “neutral” rating and issued a $265.00 target price on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Truist Financial decreased their target price on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Finally, DA Davidson reduced 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 Wednesday, May 22nd. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $250.41.

Lowe’s Companies Trading Up 0.7 %

NYSE:LOW traded up $1.59 on Wednesday, hitting $215.29. The company’s stock had a trading volume of 388,987 shares, compared to its average volume of 2,534,751. The stock has a fifty day moving average of $224.97 and a two-hundred day moving average of $228.40. The firm has a market capitalization of $122.68 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49.

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

Lowe’s Companies Cuts Dividend

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

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.