Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Arizona State Retirement System

Arizona State Retirement System boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 165,880 shares of the home improvement retailer’s stock after buying an additional 841 shares during the quarter. Arizona State Retirement System’s holdings in Lowe’s Companies were worth $36,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. 9258 Wealth Management LLC lifted its holdings in shares of Lowe’s Companies by 24.8% in the 4th quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock valued at $531,000 after buying an additional 474 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Lowe’s Companies by 6.1% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,881 shares of the home improvement retailer’s stock worth $641,000 after acquiring an additional 166 shares in the last quarter. Gryphon Financial Partners LLC grew its position in shares of Lowe’s Companies by 10.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock valued at $315,000 after acquiring an additional 138 shares during the period. Wealthspire Advisors LLC increased its position in shares of Lowe’s Companies by 5.2% in the fourth quarter. Wealthspire Advisors LLC now owns 7,392 shares of the home improvement retailer’s stock valued at $1,645,000 after buying an additional 366 shares in the last quarter. Finally, US Asset Management LLC purchased a new position in shares of Lowe’s Companies during the 4th quarter valued at approximately $287,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of research reports. Stifel Nicolaus raised their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Gordon Haskett dropped their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. DA Davidson cut their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. UBS Group boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Piper Sandler cut their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies has an average rating of “Hold” and a consensus target price of $252.83.

Lowe’s Companies Trading Down 0.5 %

LOW stock opened at $243.00 on Friday. The business’s fifty day moving average price is $236.06 and its 200 day moving average price is $233.98. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The company has a market capitalization of $138.47 billion, a PE ratio of 19.61, a P/E/G ratio of 2.04 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the firm earned $4.56 earnings per share. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. Research analysts predict that Lowe’s Companies, Inc. will post 11.94 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. 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.