New York State Teachers Retirement System Has $117.03 Million Position in Lowe’s Companies, Inc. $LOW

New York State Teachers Retirement System lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 5.5% during the third quarter, Holdings Channel reports. The institutional investor owned 465,679 shares of the home improvement retailer’s stock after selling 27,125 shares during the period. New York State Teachers Retirement System’s holdings in Lowe’s Companies were worth $117,030,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Lowe’s Companies by 31.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after buying an additional 259 shares in the last quarter. Jones Financial Companies Lllp increased its position in Lowe’s Companies by 25.0% during the 1st quarter. Jones Financial Companies Lllp now owns 394,008 shares of the home improvement retailer’s stock worth $90,450,000 after buying an additional 78,695 shares during the period. Modern Wealth Management LLC increased its position in Lowe’s Companies by 13.2% during the 1st quarter. Modern Wealth Management LLC now owns 3,047 shares of the home improvement retailer’s stock worth $711,000 after buying an additional 355 shares during the period. Finally, Invst LLC lifted its holdings in shares of Lowe’s Companies by 186.4% during the first quarter. Invst LLC now owns 2,672 shares of the home improvement retailer’s stock worth $623,000 after buying an additional 1,739 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $267.38 on Friday. The company’s 50 day moving average price is $240.98 and its two-hundred day moving average price is $242.70. The firm has a market capitalization of $149.99 billion, a P/E ratio of 22.17, a P/E/G ratio of 4.43 and a beta of 0.96. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $274.98.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.Lowe’s Companies’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.89 EPS. On average, analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s payout ratio is 39.80%.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of analyst reports. Jefferies Financial Group increased their target price on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. UBS Group reduced their price target on Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Argus dropped their price objective on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, December 2nd. JPMorgan Chase & Co. upped their target price on Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Finally, HSBC reduced their price objective on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research note on Friday, November 21st. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $277.52.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.