Utah Retirement Systems Sells 10,600 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Utah Retirement Systems lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 140,955 shares of the home improvement retailer’s stock after selling 10,600 shares during the period. Utah Retirement Systems’ holdings in Lowe’s Companies were worth $26,807,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the stock. Voloridge Investment Management LLC grew its holdings in Lowe’s Companies by 2,414.2% during the first quarter. Voloridge Investment Management LLC now owns 34,369 shares of the home improvement retailer’s stock worth $6,536,000 after purchasing an additional 33,002 shares during the period. Farr Miller & Washington LLC DC grew its holdings in Lowe’s Companies by 1.6% during the first quarter. Farr Miller & Washington LLC DC now owns 311,134 shares of the home improvement retailer’s stock worth $59,171,000 after purchasing an additional 5,013 shares during the period. Amundi Asset Management US Inc. grew its holdings in Lowe’s Companies by 17.5% during the first quarter. Amundi Asset Management US Inc. now owns 2,106,290 shares of the home improvement retailer’s stock worth $400,573,000 after purchasing an additional 314,426 shares during the period. Verition Fund Management LLC bought a new position in Lowe’s Companies during the first quarter worth about $202,000. Finally, Firethorn Wealth Partners LLC bought a new position in Lowe’s Companies during the first quarter worth about $229,000. Institutional investors and hedge funds own 74.38% of the company’s stock.

Shares of NYSE LOW traded down $0.03 during midday trading on Thursday, reaching $195.10. 19,064 shares of the company were exchanged, compared to its average volume of 3,001,600. The company’s 50-day moving average price is $192.77. The stock has a market capitalization of $137.91 billion, a PE ratio of 21.26, a P/E/G ratio of 1.31 and a beta of 1.35. Lowe’s Companies, Inc. has a one year low of $145.16 and a one year high of $215.22. The company has a current ratio of 1.17, a quick ratio of 0.37 and a debt-to-equity ratio of 49.23.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, May 18th. The home improvement retailer reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.63. The firm had revenue of $24.42 billion for the quarter, compared to analysts’ expectations of $22.91 billion. Lowe’s Companies had a net margin of 7.23% and a return on equity of 296.41%. The company’s revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 earnings per share. Analysts forecast that Lowe’s Companies, Inc. will post 10.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 4th. Shareholders of record on Wednesday, July 21st will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Tuesday, July 20th. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.60. Lowe’s Companies’s payout ratio is presently 36.12%.

In related news, EVP Seemantini Godbole sold 15,234 shares of the business’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $190.77, for a total value of $2,906,190.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.

LOW has been the subject of several research reports. Robert W. Baird raised their price objective on shares of Lowe’s Companies from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, May 20th. Truist Securities raised their price objective on shares of Lowe’s Companies from $185.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday, May 20th. Royal Bank of Canada raised their price objective on shares of Lowe’s Companies from $234.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, May 20th. raised their price objective on shares of Lowe’s Companies from $195.00 to $239.00 and gave the stock a “buy” rating in a research report on Tuesday, May 4th. Finally, Credit Suisse Group raised their price objective on shares of Lowe’s Companies from $188.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 25th. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $204.57.

Lowe’s Companies Company Profile

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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