Maryland State Retirement & Pension System cut its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,939 shares of the home improvement retailer's stock after selling 2,084 shares during the quarter. Maryland State Retirement & Pension System's holdings in Lowe's Companies were worth $7,636,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. FMR LLC lifted its stake in Lowe's Companies by 10.2% during the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer's stock worth $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. Raymond James Financial Inc. bought a new position in Lowe's Companies during the fourth quarter worth about $314,435,000. Strategic Financial Concepts LLC lifted its stake in Lowe's Companies by 24,531.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock worth $303,096,000 after purchasing an additional 1,223,116 shares during the period. Amundi lifted its stake in Lowe's Companies by 60.1% during the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer's stock worth $642,730,000 after purchasing an additional 976,823 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in Lowe's Companies by 42,529.8% during the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer's stock worth $208,843,000 after purchasing an additional 844,217 shares during the period. Institutional investors own 74.06% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on LOW shares. Evercore ISI raised their price target on shares of Lowe's Companies from $270.00 to $290.00 and gave the stock an "in-line" rating in a research note on Thursday, December 12th. Bank of America cut their target price on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. Sanford C. Bernstein lifted their target price on shares of Lowe's Companies from $301.00 to $304.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Finally, Wedbush reiterated a "neutral" rating and issued a $250.00 target price on shares of Lowe's Companies in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $280.83.
Read Our Latest Stock Report on Lowe's Companies
Lowe's Companies Stock Performance
LOW traded up $0.83 during trading on Friday, reaching $227.09. 6,352,712 shares of the company's stock were exchanged, compared to its average volume of 2,279,073. The company's fifty day moving average price is $247.99 and its 200-day moving average price is $257.79. Lowe's Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The firm has a market capitalization of $128.23 billion, a PE ratio of 18.94, a P/E/G ratio of 1.96 and a beta of 1.12.
Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.10. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. Research analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.
Lowe's Companies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders 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 2.03%. Lowe's Companies's dividend payout ratio is presently 37.67%.
Lowe's Companies Company Profile
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Free Report)
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.
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