Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Railway Pension Investments Ltd

Railway Pension Investments Ltd cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 54.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 138,683 shares of the home improvement retailer’s stock after selling 165,068 shares during the quarter. Railway Pension Investments Ltd’s holdings in Lowe’s Companies were worth $35,327,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares during the last quarter. Norges Bank purchased a new stake in shares of Lowe’s Companies during the fourth quarter valued at $1,638,746,000. Charles Schwab Investment Management Inc. increased its position in shares of Lowe’s Companies by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock valued at $714,637,000 after acquiring an additional 41,451 shares during the period. Schroder Investment Management Group raised its stake in Lowe’s Companies by 1.9% in the 4th quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after acquiring an additional 52,859 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Lowe’s Companies during the 4th quarter worth about $430,090,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Ratings Changes

LOW has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday. Truist Financial dropped their price objective on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Evercore ISI reduced their target price on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, May 21st. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $250.04.

Lowe’s Companies Stock Performance

Shares of LOW stock traded down $0.94 on Friday, reaching $240.42. 2,258,921 shares of the company were exchanged, compared to its average volume of 2,483,161. The company has a market cap of $137.00 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The business has a 50-day moving average price of $225.93 and a 200 day moving average price of $230.17.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.94 by $0.12. The company had revenue of $21.36 billion during 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%. Lowe’s Companies’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.67 EPS. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders 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 annualized dividend and a yield of 0.25%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

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.