Employees Retirement System of Texas reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 18.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 154,800 shares of the home improvement retailer’s stock after selling 36,000 shares during the period. Employees Retirement System of Texas’ holdings in Lowe’s Companies were worth $14,794,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the business. NuWave Investment Management LLC purchased a new stake in shares of Lowe’s Companies in the second quarter valued at about $126,000. FNY Investment Advisers LLC purchased a new stake in shares of Lowe’s Companies in the second quarter valued at about $127,000. ClariVest Asset Management LLC purchased a new stake in shares of Lowe’s Companies in the first quarter valued at about $118,000. Rainier Group Investment Advisory LLC purchased a new stake in shares of Lowe’s Companies in the first quarter valued at about $121,000. Finally, Jacobi Capital Management LLC boosted its holdings in shares of Lowe’s Companies by 88.8% in the first quarter. Jacobi Capital Management LLC now owns 1,524 shares of the home improvement retailer’s stock valued at $129,000 after acquiring an additional 717 shares in the last quarter. 74.12% of the stock is currently owned by institutional investors.
Shares of LOW opened at $108.68 on Thursday. The company has a quick ratio of 0.25, a current ratio of 1.06 and a debt-to-equity ratio of 2.58. The stock has a market cap of $87.30 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32. Lowe’s Companies, Inc. has a 12-month low of $73.28 and a 12-month high of $109.80.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. The company had revenue of $20.89 billion during the quarter, compared to analysts’ expectations of $20.79 billion. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.57 earnings per share. research analysts anticipate that Lowe’s Companies, Inc. will post 5.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders of record on Wednesday, October 24th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Tuesday, October 23rd. Lowe’s Companies’s payout ratio is currently 43.74%.
LOW has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a report on Thursday, May 24th. KeyCorp reaffirmed an “overweight” rating and issued a $115.00 target price (up previously from $105.00) on shares of Lowe’s Companies in a report on Tuesday, July 24th. ValuEngine raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, May 24th. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a report on Wednesday, May 23rd. Finally, Argus lifted their target price on shares of Lowe’s Companies from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, May 25th. Ten research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $111.41.
In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 12,362 shares of Lowe’s Companies stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $99.56, for a total transaction of $1,230,760.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lisa W. Wardell bought 273 shares of the business’s stock in a transaction on Friday, August 24th. The shares were acquired at an average price of $107.72 per share, with a total value of $29,407.56. Following the transaction, the director now owns 273 shares of the company’s stock, valued at approximately $29,407.56. The disclosure for this purchase can be found here. Insiders own 0.30% of the company’s stock.
Lowe’s Companies Company Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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