New York State Teachers Retirement System Has $117.03 Million Stock Position in Lowe’s Companies, Inc. $LOW

by · The Cerbat Gem

New York State Teachers Retirement System lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 5.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 465,679 shares of the home improvement retailer’s stock after selling 27,125 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Lowe’s Companies worth $117,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Howard Hughes Medical Institute bought a new position in Lowe’s Companies in the 2nd quarter valued at $27,000. Solstein Capital LLC lifted its stake in shares of Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after acquiring an additional 113 shares during the period. Traub Capital Management LLC bought a new position in Lowe’s Companies in the second quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC increased its position in Lowe’s Companies by 128.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 76 shares during the period. Finally, Olistico Wealth LLC bought a new stake in Lowe’s Companies during the 2nd quarter worth about $33,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LOW has been the topic of several recent research reports. Robert W. Baird reduced their target price on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. lifted their target price on shares of Lowe’s Companies from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. UBS Group dropped their target price on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Finally, Wells Fargo & Company reduced their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $277.52.

Read Our Latest Analysis on LOW

Lowe’s Companies Stock Up 4.4%

LOW opened at $267.38 on Friday. The stock has a market cap of $149.99 billion, a P/E ratio of 22.17, a P/E/G ratio of 4.43 and a beta of 0.96. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $274.98. The company has a fifty day simple moving average of $240.98 and a 200 day simple moving average of $242.70.

Lowe’s Companies (NYSE:LOW – Get Free Report) last released its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The company had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.89 earnings per share. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. Lowe’s Companies’s payout ratio is currently 39.80%.

Lowe’s Companies Profile

(Free Report)

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.

Read More