Public Employees Retirement Association of Colorado Sells 2,426 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Public Employees Retirement Association of Colorado lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,679 shares of the home improvement retailer’s stock after selling 2,426 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Lowe’s Companies were worth $17,346,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. lifted its holdings in Lowe’s Companies by 6.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 64,690 shares of the home improvement retailer’s stock valued at $14,262,000 after buying an additional 3,769 shares during the period. Trust Investment Advisors raised its position in shares of Lowe’s Companies by 1.2% during the 2nd quarter. Trust Investment Advisors now owns 4,422 shares of the home improvement retailer’s stock valued at $975,000 after acquiring an additional 54 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Lowe’s Companies by 1.5% in the 2nd quarter. Brighton Jones LLC now owns 19,503 shares of the home improvement retailer’s stock valued at $4,300,000 after purchasing an additional 279 shares during the period. Intech Investment Management LLC boosted its position in shares of Lowe’s Companies by 1.7% in the 2nd quarter. Intech Investment Management LLC now owns 17,829 shares of the home improvement retailer’s stock worth $3,931,000 after purchasing an additional 298 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Lowe’s Companies during the second quarter worth $882,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company cut their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Gordon Haskett cut their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Evercore ISI boosted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $253.33.

Lowe’s Companies Stock Down 0.3 %

Shares of LOW stock opened at $260.17 on Friday. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The company’s fifty day simple moving average is $243.58 and its 200-day simple moving average is $235.40. The firm has a market cap of $148.25 billion, a PE ratio of 20.90, a P/E/G ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.56 EPS. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.77%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Lowe’s Companies Profile

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.