Public Employees Retirement System of Ohio Sells 4,710 Shares of Lowe’s Companies, Inc. (LOW)
Public Employees Retirement System of Ohio reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% during the first quarter, Holdings Channel reports. The institutional investor owned 642,877 shares of the home improvement retailer’s stock after selling 4,710 shares during the period. Public Employees Retirement System of Ohio’s holdings in Lowe’s Companies were worth $52,851,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. raised its stake in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after buying an additional 5 shares in the last quarter. Washington Trust Bank raised its stake in Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock valued at $102,000 after buying an additional 266 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in Lowe’s Companies during the first quarter valued at approximately $103,000. State of Alaska Department of Revenue acquired a new position in shares of Lowe’s Companies during the first quarter worth about $109,000. Finally, Hanson McClain Inc. raised its position in shares of Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 74.65% of the company’s stock.
Shares of Lowe’s Companies, Inc. (NYSE LOW) traded up 1.33% during mid-day trading on Wednesday, hitting $75.29. The company’s stock had a trading volume of 1,743,651 shares. The stock has a 50-day moving average of $76.67 and a 200-day moving average of $79.53. The company has a market cap of $63.56 billion, a PE ratio of 23.61 and a beta of 1.08. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25. Lowe’s Companies also was the target of some unusual options trading on Tuesday. Stock investors purchased 23,265 call options on the stock. This represents an increase of 109% compared to the average volume of 11,139 call options.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The company had revenue of $16.86 billion during the quarter, compared to analysts’ expectations of $16.99 billion. During the same quarter in the prior year, the company earned $0.87 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts forecast that Lowe’s Companies, Inc. will post $4.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Wednesday, July 26th were given a $0.41 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.35. This represents a $1.64 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 51.57%.
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A number of brokerages have recently issued reports on LOW. Vetr lowered Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 target price on the stock. in a research report on Monday, May 8th. BMO Capital Markets reiterated a “buy” rating and set a $89.00 target price on shares of Lowe’s Companies in a research report on Friday, May 5th. Credit Suisse Group set a $94.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Zacks Investment Research lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Jefferies Group LLC increased their target price on Lowe’s Companies from $80.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, May 12th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Lowe’s Companies currently has a consensus rating of “Hold” and a consensus price target of $85.63.
In other news, insider Richard D. Maltsbarger sold 11,672 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total value of $936,094.40. Following the sale, the insider now directly owns 37,716 shares in the company, valued at $3,024,823.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.
About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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