Teacher Retirement System of Texas Decreases Stake in Lowe’s Companies, Inc. $LOW

Teacher Retirement System of Texas cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 24.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 184,404 shares of the home improvement retailer’s stock after selling 59,569 shares during the quarter. Teacher Retirement System of Texas’ holdings in Lowe’s Companies were worth $46,343,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in Lowe’s Companies in the 2nd quarter worth approximately $1,773,624,000. Tableaux LLC acquired a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $282,884,000. Laurel Wealth Advisors LLC increased its holdings in shares of Lowe’s Companies by 22,167.5% in the second quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock valued at $229,041,000 after purchasing an additional 1,027,683 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its position in Lowe’s Companies by 243.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,116,945 shares of the home improvement retailer’s stock worth $247,817,000 after buying an additional 791,526 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Lowe’s Companies by 101.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,244,941 shares of the home improvement retailer’s stock worth $312,866,000 after buying an additional 626,829 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $275.03 on Friday. The stock has a market capitalization of $154.28 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 4.59 and a beta of 0.96. The business has a 50-day moving average of $248.30 and a 200 day moving average of $245.69. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $281.36.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results 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 business had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. During the same quarter in the prior year, the company earned $2.89 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.80%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LOW shares. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Telsey Advisory Group dropped their price objective on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Royal Bank Of Canada cut their price objective on shares of Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating for the company in a research report on Thursday, November 20th. Morgan Stanley lifted their target price on shares of Lowe’s Companies from $270.00 to $296.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Finally, Bank of America decreased their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $283.65.

Insider Activity

In other news, CEO Marvin R. Ellison sold 18,000 shares of the 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 sale, the chief executive officer directly owned 231,043 shares in the company, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Profile

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.