California Public Employees Retirement System Sells 50,389 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

California Public Employees Retirement System lessened its position in Lowe’s Companies, Inc. (NYSE:LOW) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,096,543 shares of the home improvement retailer’s stock after selling 50,389 shares during the period. California Public Employees Retirement System owned about 0.19% of Lowe’s Companies worth $244,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Morgan Stanley lifted its position in Lowe’s Companies by 1.1% during the third quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock valued at $2,271,836,000 after purchasing an additional 116,855 shares during the period. Northern Trust Corp increased its holdings in Lowe’s Companies by 1.1% during the third quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock valued at $1,483,733,000 after buying an additional 78,901 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Lowe’s Companies by 189.5% in the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock worth $581,592,000 after purchasing an additional 1,831,727 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of Lowe’s Companies by 187,225.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock worth $438,783,000 after purchasing an additional 2,110,032 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth $430,090,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.8 %

Lowe’s Companies stock traded up $1.92 during midday trading on Tuesday, reaching $232.05. The stock had a trading volume of 204,406 shares, compared to its average volume of 2,507,030. The company has a fifty day moving average price of $239.65 and a two-hundred day moving average price of $219.11. The company has a market capitalization of $132.78 billion, a P/E ratio of 17.57, a PEG ratio of 1.70 and a beta of 1.13. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The business had revenue of $18.60 billion during the quarter, compared to analyst estimates of $18.47 billion. During the same period in the prior year, the company earned $2.28 earnings per share. Lowe’s Companies’s revenue was down 17.1% compared to the same quarter last year. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently disclosed 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 of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.90%. Lowe’s Companies’s dividend payout ratio is currently 33.43%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Zelman & Associates reissued a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Robert W. Baird upgraded shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 target price for the company in a research report on Wednesday, February 14th. Truist Financial upped their target price on shares of Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Piper Sandler upped their target price on shares of Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, Barclays upped their target price on shares of Lowe’s Companies from $203.00 to $229.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 4th. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently 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.