Public Employees Retirement System of Ohio grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 3.7% in the first quarter, Holdings Channel reports. The firm owned 235,429 shares of the home improvement retailer’s stock after acquiring an additional 8,358 shares during the period. Public Employees Retirement System of Ohio’s holdings in Lowe’s Companies were worth $55,627,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. FCA Corp TX increased its position in shares of Lowe’s Companies by 0.4% during the first quarter. FCA Corp TX now owns 18,533 shares of the home improvement retailer’s stock worth $4,379,000 after acquiring an additional 65 shares during the period. Klingman & Associates LLC boosted its holdings in shares of Lowe’s Companies by 2.1% in the first quarter. Klingman & Associates LLC now owns 3,373 shares of the home improvement retailer’s stock valued at $797,000 after purchasing an additional 68 shares during the period. Dickmeyer Boyce Financial Management Inc. bought a new position in Lowe’s Companies in the first quarter worth approximately $324,000. Gibbs Wealth Management grew its stake in Lowe’s Companies by 122.5% in the first quarter. Gibbs Wealth Management now owns 8,819 shares of the home improvement retailer’s stock worth $2,084,000 after purchasing an additional 4,856 shares in the last quarter. Finally, Ascension Capital Advisors Inc. purchased a new position in Lowe’s Companies during the 1st quarter worth $224,000. 74.06% of the stock is currently owned by institutional investors.
Lowe’s Companies Price Performance
Shares of NYSE:LOW opened at $201.87 on Friday. The business’s 50-day moving average is $215.44 and its 200 day moving average is $240.45. Lowe’s Companies, Inc. has a 1 year low of $199.40 and a 1 year high of $293.06. The firm has a market capitalization of $113.19 billion, a P/E ratio of 17.06, a P/E/G ratio of 2.58 and a beta of 0.86.
Lowe’s Companies Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.5%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Wednesday, July 22nd. Lowe’s Companies’s dividend payout ratio is 42.27%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. TD Cowen decreased their target price on Lowe’s Companies from $280.00 to $235.00 and set a “hold” rating for the company in a research report on Thursday, May 21st. Mizuho cut their price target on Lowe’s Companies from $294.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. BNP Paribas Exane decreased their price objective on Lowe’s Companies from $228.00 to $202.00 and set an “underperform” rating for the company in a report on Thursday, May 21st. Telsey Advisory Group lowered their price objective on shares of Lowe’s Companies from $295.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, May 21st. Finally, Morgan Stanley dropped their target price on shares of Lowe’s Companies from $292.00 to $277.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Twenty-three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $264.57.
Get Our Latest Stock Analysis on Lowe’s Companies
Insider Buying and Selling
In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 2,500 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $223.83, for a total transaction of $559,575.00. Following the sale, the executive vice president directly owned 20,220 shares of the company’s stock, valued at approximately $4,525,842.60. This trade represents a 11.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Juliette Williams Pryor sold 9,330 shares of Lowe’s Companies stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $224.81, for a total value of $2,097,477.30. Following the transaction, the executive vice president owned 16,142 shares of the company’s stock, valued at $3,628,883.02. The trade was a 36.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,980 shares of company stock valued at $5,796,937 over the last 90 days. Insiders own 0.29% of the company’s stock.
Lowe’s Companies Profile
Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.
Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.
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