M&T Bank Corp Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

M&T Bank Corp trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,018 shares of the home improvement retailer’s stock after selling 11,010 shares during the period. M&T Bank Corp owned 0.07% of Lowe’s Companies worth $85,464,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. purchased a new stake in Lowe’s Companies in the fourth quarter worth about $25,000. Orion Capital Management LLC bought a new position in shares of Lowe’s Companies during the 3rd quarter valued at approximately $26,000. VisionPoint Advisory Group LLC increased its holdings in Lowe’s Companies by 85.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Lowe’s Companies during the 3rd quarter worth approximately $40,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Lowe’s Companies during the fourth quarter valued at approximately $47,000. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Performance

NYSE LOW traded up $2.55 on Friday, hitting $232.13. 1,834,728 shares of the stock were exchanged, compared to its average volume of 2,044,726. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The firm has a market capitalization of $132.82 billion, a P/E ratio of 17.64, a P/E/G ratio of 1.72 and a beta of 1.15. The stock has a fifty day moving average price of $240.07 and a two-hundred day moving average price of $220.75.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The firm had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.28 EPS. Sell-side analysts expect that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.90%. Lowe’s Companies’s payout ratio is 33.43%.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of analyst reports. Wedbush increased their price objective on shares of Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a report on Wednesday, March 27th. Citigroup upped their price objective on Lowe’s Companies from $199.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 21st. Evercore ISI cut their target price on Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada boosted their price target on Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 28th. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $252.52.

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.