Fifth Third Bancorp Sells 9,715 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Fifth Third Bancorp lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 305,356 shares of the home improvement retailer’s stock after selling 9,715 shares during the period. Fifth Third Bancorp’s holdings in Lowe’s Companies were worth $71,218,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LOW. Wood Tarver Financial Group LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $25,000. Marshall Investment Management LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $31,000. Caisse Des Depots ET Consignations bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $33,000. Orion Capital Management LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $36,000. Finally, IFS Advisors LLC boosted its position in shares of Lowe’s Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $221.23 on Thursday. The firm has a market capitalization of $123.98 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 1.96 and a beta of 0.92. Lowe’s Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The stock has a fifty day moving average of $223.50 and a 200 day moving average of $240.87.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (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 analyst estimates of $21.09 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $3.06 earnings per share. Equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.17%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s payout ratio is 39.77%.

Insiders Place Their Bets

In other Lowe’s Companies 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 transaction of $257,075.00. Following the completion of the sale, the executive vice president now owns 31,898 shares of the company’s stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LOW. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Morgan Stanley cut their target price on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Telsey Advisory Group restated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 21st. JPMorgan Chase & Co. cut their target price on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada cut their target price on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 22nd. One investment 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 data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $271.12.

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.