State of New Jersey Common Pension Fund D Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

State of New Jersey Common Pension Fund D cut its position in Lowe’s Companies, Inc. (NYSE:LOW) by 36.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 209,600 shares of the home improvement retailer’s stock after selling 118,417 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Lowe’s Companies were worth $46,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Linscomb Wealth Inc. boosted its holdings in shares of Lowe’s Companies by 2.1% in the 2nd quarter. Linscomb Wealth Inc. now owns 13,902 shares of the home improvement retailer’s stock valued at $3,065,000 after buying an additional 281 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of Lowe’s Companies by 14.3% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,457 shares of the home improvement retailer’s stock valued at $323,000 after buying an additional 182 shares in the last quarter. Trifecta Capital Advisors LLC boosted its holdings in shares of Lowe’s Companies by 11.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 2,833 shares of the home improvement retailer’s stock valued at $625,000 after buying an additional 299 shares in the last quarter. Wellington Shields & Co. LLC boosted its holdings in shares of Lowe’s Companies by 12.2% in the 2nd quarter. Wellington Shields & Co. LLC now owns 1,175 shares of the home improvement retailer’s stock valued at $259,000 after buying an additional 128 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Lowe’s Companies by 7.4% in the 2nd quarter. LPL Financial LLC now owns 782,877 shares of the home improvement retailer’s stock valued at $172,593,000 after buying an additional 54,202 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW opened at $247.38 on Thursday. The company has a 50-day simple moving average of $238.51 and a 200-day simple moving average of $234.49. The company has a market capitalization of $140.97 billion, a PE ratio of 19.87, a P/E/G ratio of 2.00 and a beta of 1.10. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the firm posted $4.56 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LOW shares. DA Davidson lowered their target price 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 increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Company decreased their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Royal Bank of Canada decreased their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. Finally, Bank of America decreased their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $252.83.

Lowe’s Companies Company 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.