Maryland State Retirement & Pension System Decreases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Maryland State Retirement & Pension System trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,067 shares of the home improvement retailer’s stock after selling 100 shares during the period. Maryland State Retirement & Pension System’s holdings in Lowe’s Companies were worth $10,030,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LOW. Clifford Swan Investment Counsel LLC grew its holdings in shares of Lowe’s Companies by 0.3% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock worth $47,947,000 after purchasing an additional 541 shares during the last quarter. Harbour Trust & Investment Management Co acquired a new stake in Lowe’s Companies during the 4th quarter worth about $5,890,000. Syon Capital LLC lifted its holdings in Lowe’s Companies by 23.3% in the fourth quarter. Syon Capital LLC now owns 7,129 shares of the home improvement retailer’s stock valued at $1,587,000 after acquiring an additional 1,345 shares during the period. Biondo Investment Advisors LLC boosted its stake in shares of Lowe’s Companies by 1.0% during the 3rd quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock worth $12,669,000 after acquiring an additional 620 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in Lowe’s Companies by 18.6% in the 4th quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock worth $829,000 after acquiring an additional 584 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.2 %

NYSE:LOW traded down $0.37 on Tuesday, hitting $231.33. 1,198,840 shares of the company’s stock traded hands, compared to its average volume of 2,444,234. The firm has a 50-day moving average price of $240.08 and a 200-day moving average price of $221.40. The company has a market cap of $132.36 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company had revenue of $18.60 billion during the quarter, compared to analyst estimates of $18.47 billion. During the same quarter last year, the business posted $2.28 EPS. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, research analysts forecast that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.90%. Lowe’s Companies’s dividend payout ratio is 33.43%.

Wall Street Analysts Forecast Growth

LOW has been the topic of several research analyst reports. Piper Sandler boosted their price objective on shares of Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. The Goldman Sachs Group increased their target price on shares of Lowe’s Companies from $238.00 to $262.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Citigroup reduced their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday. Truist Financial upped their price target on Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada raised their target price on shares of Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $252.67.

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.