Public Sector Pension Investment Board Reduces Stock Position in Lowe’s Companies, Inc. $LOW

Public Sector Pension Investment Board lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 89.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,505 shares of the home improvement retailer’s stock after selling 406,525 shares during the quarter. Public Sector Pension Investment Board’s holdings in Lowe’s Companies were worth $12,190,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Lowe’s Companies during the 2nd quarter valued at about $1,773,624,000. Tableaux LLC purchased a new position in Lowe’s Companies during the second quarter worth about $282,884,000. Laurel Wealth Advisors LLC boosted its holdings in Lowe’s Companies by 22,167.5% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock valued at $229,041,000 after purchasing an additional 1,027,683 shares during the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Lowe’s Companies by 243.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,116,945 shares of the home improvement retailer’s stock valued at $247,817,000 after buying an additional 791,526 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Lowe’s Companies by 101.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,244,941 shares of the home improvement retailer’s stock valued at $312,866,000 after buying an additional 626,829 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

NYSE LOW opened at $287.36 on Monday. The company has a market cap of $161.19 billion, a P/E ratio of 23.83, a P/E/G ratio of 4.48 and a beta of 0.97. The stock has a 50-day moving average of $261.04 and a two-hundred day moving average of $251.90. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $293.06.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The business had revenue of $20.81 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.89 earnings per share. On average, analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Insider Activity at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the sale, the chief executive officer directly owned 231,043 shares in the company, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of recent analyst reports. Mizuho decreased their price objective on Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Oppenheimer decreased their price target on Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, December 5th. Barclays upgraded Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price target for the company in a report on Wednesday, January 7th. HSBC reduced their price objective on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a report on Friday, November 21st. Finally, The Goldman Sachs Group increased their target price on shares of Lowe’s Companies from $280.00 to $283.00 and gave the stock a “buy” rating in a research note on Friday. Twenty investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $287.22.

Lowe’s Companies Company 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.