California Public Employees Retirement System raised its stake in shares of Lowe's Companies, Inc. (NYSE:LOW) by 5.5% during the 3rd quarter, Holdings Channel reports. The firm owned 2,247,966 shares of the home improvement retailer’s stock after purchasing an additional 117,946 shares during the quarter. California Public Employees Retirement System’s holdings in Lowe's Companies were worth $179,702,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in LOW. Summit Global Investments acquired a new stake in shares of Lowe's Companies in the second quarter worth $1,421,000. Ffcm LLC grew its stake in shares of Lowe's Companies by 6.4% in the second quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock worth $2,395,000 after acquiring an additional 1,853 shares during the last quarter. Burney Co. grew its stake in shares of Lowe's Companies by 3.9% in the second quarter. Burney Co. now owns 145,724 shares of the home improvement retailer’s stock worth $11,162,000 after acquiring an additional 5,453 shares during the last quarter. PGGM Investments grew its stake in shares of Lowe's Companies by 45.8% in the third quarter. PGGM Investments now owns 986,226 shares of the home improvement retailer’s stock worth $78,839,000 after acquiring an additional 309,870 shares during the last quarter. Finally, FIL Ltd grew its stake in shares of Lowe's Companies by 8.6% in the second quarter. FIL Ltd now owns 1,972,527 shares of the home improvement retailer’s stock worth $152,931,000 after acquiring an additional 155,662 shares during the last quarter. Institutional investors own 73.12% of the company’s stock.
Lowe's Companies, Inc. (LOW) opened at $100.86 on Friday. The stock has a market capitalization of $79,441.27, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. Lowe's Companies, Inc. has a twelve month low of $70.76 and a twelve month high of $102.28. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.12 and a current ratio of 1.02.
Lowe's Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.03. The company had revenue of $16.77 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. equities research analysts anticipate that Lowe's Companies, Inc. will post 4.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be issued a dividend of $0.41 per share. The ex-dividend date is Tuesday, January 23rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.63%. Lowe's Companies’s payout ratio is presently 39.33%.
In other Lowe's Companies news, insider Nelson B. Peace sold 3,352 shares of Lowe's Companies stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.20, for a total transaction of $268,830.40. Following the completion of the transaction, the insider now directly owns 4,650 shares of the company’s stock, valued at $372,930. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.
Several equities research analysts have recently issued reports on the stock. Barclays upgraded shares of Lowe's Companies from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 5th. Zelman & Associates cut Lowe's Companies from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $103.00 target price on shares of Lowe's Companies in a research report on Friday, December 22nd. Robert W. Baird reaffirmed a “buy” rating and issued a $110.00 target price on shares of Lowe's Companies in a research report on Wednesday, January 3rd. Finally, Guggenheim initiated coverage on Lowe's Companies in a research report on Tuesday, December 12th. They issued a “buy” rating and a $95.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $88.62.
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About Lowe's Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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