Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by PGGM Investments

PGGM Investments cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) 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 (NYSE:LOW) last announced its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.09. The business had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The business’s revenue was down 17.1% on a year-over-year basis. During the same quarter last year, the business posted $2.28 EPS. Equities analysts forecast that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

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.

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.