Texas Permanent School Fund Corp Cuts Position in Lowe’s Companies, Inc. $LOW

by · The Markets Daily

Texas Permanent School Fund Corp reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,018 shares of the home improvement retailer’s stock after selling 6,016 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Lowe’s Companies were worth $15,535,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Lowe’s Companies by 0.7% in the second quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock valued at $12,197,604,000 after purchasing an additional 366,977 shares during the period. State Street Corp grew its stake in shares of Lowe’s Companies by 0.8% in the second quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock valued at $5,527,176,000 after buying an additional 207,826 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Lowe’s Companies by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock valued at $2,732,049,000 after buying an additional 42,190 shares during the period. Norges Bank purchased a new stake in shares of Lowe’s Companies during the 2nd quarter valued at about $1,773,624,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Lowe’s Companies by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,779,120 shares of the home improvement retailer’s stock worth $881,406,000 after acquiring an additional 225,964 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LOW. JPMorgan Chase & Co. increased their price objective on shares of Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Guggenheim reaffirmed a “buy” rating and set a $300.00 price target on shares of Lowe’s Companies in a report on Thursday, August 21st. Wolfe Research cut their price objective on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Finally, Royal Bank Of Canada decreased their price objective on shares of Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating for the company in a research report on Thursday, November 20th. Sixteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $275.92.

Read Our Latest Stock Report on Lowe’s Companies

Lowe’s Companies Price Performance

NYSE LOW opened at $247.20 on Monday. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $274.98. The company has a market capitalization of $138.67 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 4.10 and a beta of 0.96. The company’s fifty day moving average price is $238.74 and its two-hundred day moving average price is $239.28.

Lowe’s Companies (NYSE:LOW – Get Free Report) last released its earnings results on Wednesday, November 19th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. During the same quarter in the previous year, the firm earned $2.89 EPS. The company’s revenue was up 3.2% on a year-over-year basis. Lowe’s Companies has set its FY 2025 guidance at 12.250-12.250 EPS. As a group, analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a yield of 1.9%. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

About Lowe’s Companies

(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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