Public Employees Retirement System of Ohio Cuts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Public Employees Retirement System of Ohio lessened its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,022 shares of the home improvement retailer’s stock after selling 12,528 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Lowe’s Companies were worth $60,718,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LOW. Marshall Investment Management LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at approximately $31,000. Caisse Des Depots ET Consignations purchased a new position in Lowe’s Companies during the 4th quarter valued at approximately $33,000. Orion Capital Management LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at approximately $36,000. Measured Risk Portfolios Inc. purchased a new position in Lowe’s Companies during the 4th quarter valued at approximately $42,000. Finally, Millstone Evans Group LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

LOW has been the subject of several research analyst reports. Bank of America cut their price target on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, February 27th. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Mizuho set a $280.00 price objective on Lowe’s Companies and gave the company an “outperform” rating in a research note on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Wednesday. Finally, DA Davidson lowered their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $271.52.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $223.74 on Friday. Lowe’s Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The firm has a market capitalization of $125.23 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.96 and a beta of 1.00. The stock has a 50 day moving average price of $224.65 and a 200 day moving average price of $245.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Lowe’s Companies’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $3.06 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were issued a dividend of $1.15 per share. The ex-dividend date was Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.06%. Lowe’s Companies’s payout ratio is currently 37.67%.

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.