New York State Common Retirement Fund Has $174.53 Million Stock Holdings in Lowe’s Companies, Inc. $LOW

New York State Common Retirement Fund lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.0% in the third quarter, HoldingsChannel reports. The fund owned 694,489 shares of the home improvement retailer’s stock after selling 36,600 shares during the period. New York State Common Retirement Fund’s holdings in Lowe’s Companies were worth $174,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Howard Hughes Medical Institute bought a new position in Lowe’s Companies in the second quarter valued at $27,000. Solstein Capital LLC raised its holdings in Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after acquiring an additional 113 shares in the last quarter. Traub Capital Management LLC acquired a new position in Lowe’s Companies during the second quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC grew its stake in Lowe’s Companies by 128.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 76 shares in the last quarter. Finally, Olistico Wealth LLC bought a new position in Lowe’s Companies in the second quarter valued at approximately $33,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $269.66 on Thursday. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $281.36. The company has a market capitalization of $151.27 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 4.54 and a beta of 0.96. The company has a 50-day simple moving average of $252.23 and a 200 day simple moving average of $247.22.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data 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. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The firm had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. During the same period last year, the business posted $2.89 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.80%.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the company’s 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 transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at $60,341,500.31. This represents a 7.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LOW. Bank of America cut their price objective on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Telsey Advisory Group cut their price target on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Robert W. Baird lowered their price objective on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Wolfe Research dropped their target price on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Finally, Sanford C. Bernstein raised their target price on shares of Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.65.

About Lowe’s Companies

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.