Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board reduced its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 46.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,247,810 shares of the home improvement retailer's stock after selling 1,095,555 shares during the period. Lowe's Companies makes up about 3.7% of Ontario Teachers Pension Plan Board's portfolio, making the stock its 9th biggest holding. Ontario Teachers Pension Plan Board owned approximately 0.22% of Lowe's Companies worth $307,960,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Lowe's Companies during the 4th quarter worth approximately $1,842,954,000. Raymond James Financial Inc. acquired a new position in Lowe's Companies in the fourth quarter valued at approximately $314,435,000. Strategic Financial Concepts LLC increased its stake in Lowe's Companies by 24,531.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock valued at $303,096,000 after purchasing an additional 1,223,116 shares in the last quarter. Amundi boosted its holdings in Lowe's Companies by 60.1% in the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer's stock worth $642,730,000 after acquiring an additional 976,823 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in Lowe's Companies by 42,529.8% during the 4th quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer's stock valued at $208,843,000 after purchasing an additional 844,217 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Mizuho cut their target price on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada cut their price objective on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a report on Tuesday. Piper Sandler cut their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, Bank of America cut their target price on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $278.74.

Lowe's Companies Price Performance

Shares of LOW stock traded up $4.60 during mid-day trading on Friday, hitting $219.01. 2,166,819 shares of the stock traded hands, compared to its average volume of 2,467,927. The stock's fifty day moving average is $233.35 and its two-hundred day moving average is $253.13. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The stock has a market cap of $122.58 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.96 and a beta of 1.07.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. The business had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. As a group, equities analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio (DPR) is presently 37.67%.

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.