PGGM Investments cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 37.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,946 shares of the home improvement retailer’s stock after selling 24,723 shares during the quarter. PGGM Investments’ holdings in Lowe’s Companies were worth $9,113,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. Morgan Stanley grew its stake in shares of Lowe’s Companies by 1.1% in the third quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock valued at $2,271,836,000 after buying an additional 116,855 shares in the last quarter. Northern Trust Corp grew its stake in shares of Lowe’s Companies by 1.1% in the third quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock valued at $1,483,733,000 after buying an additional 78,901 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Lowe’s Companies by 189.5% in the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after buying an additional 1,831,727 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of Lowe’s Companies by 187,225.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock valued at $438,783,000 after buying an additional 2,110,032 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $430,090,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.
Lowe’s Companies Price Performance
Shares of NYSE LOW traded down $0.09 during mid-day trading on Friday, hitting $229.87. The company had a trading volume of 2,001,196 shares, compared to its average volume of 2,110,073. The stock has a market cap of $131.53 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 1.70 and a beta of 1.13. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The firm’s 50 day simple moving average is $239.98 and its two-hundred day simple moving average is $219.82.
Lowe’s Companies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is currently 33.43%.
Analyst Upgrades and Downgrades
LOW has been the subject of a number of recent research reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Citigroup increased their target price on Lowe’s Companies from $199.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, February 21st. UBS Group raised their price objective on Lowe’s Companies from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Barclays raised their price objective on Lowe’s Companies from $203.00 to $229.00 and gave the company an “equal weight” rating in a research note on Thursday, January 4th. Finally, Evercore ISI lowered their price objective on Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Hold” and an average price target of $252.52.
Read Our Latest Stock Analysis on LOW
About Lowe’s Companies
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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