Teachers Retirement System of The State of Kentucky Cuts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Teachers Retirement System of The State of Kentucky reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 15.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 347,146 shares of the home improvement retailer’s stock after selling 65,763 shares during the period. Lowe’s Companies accounts for about 0.6% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 21st largest holding. Teachers Retirement System of The State of Kentucky’s holdings in Lowe’s Companies were worth $46,907,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Lowe’s Companies in the 2nd quarter worth $26,000. PrairieView Partners LLC purchased a new position in Lowe’s Companies in the second quarter valued at about $26,000. CBIZ Investment Advisory Services LLC raised its position in Lowe’s Companies by 745.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 338 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 298 shares during the period. CVA Family Office LLC purchased a new position in Lowe’s Companies in the first quarter valued at about $29,000. Finally, Financial Management Professionals Inc. purchased a new position in Lowe’s Companies in the second quarter valued at about $32,000. 74.63% of the stock is currently owned by institutional investors and hedge funds.

LOW stock traded up $3.84 during midday trading on Tuesday, reaching $169.03. The company had a trading volume of 3,995,193 shares, compared to its average volume of 5,337,433. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 4.64. The stock has a 50 day moving average price of $156.93 and a 200 day moving average price of $124.01. Lowe’s Companies, Inc. has a fifty-two week low of $60.00 and a fifty-two week high of $171.32. The firm has a market capitalization of $127.74 billion, a PE ratio of 22.56, a P/E/G ratio of 1.19 and a beta of 1.50.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 EPS for the quarter, beating the Zacks’ consensus estimate of $2.95 by $0.80. Lowe’s Companies had a return on equity of 228.17% and a net margin of 7.12%. The company had revenue of $27.30 billion during the quarter, compared to the consensus estimate of $24.24 billion. During the same period in the previous year, the firm posted $2.15 earnings per share. Lowe’s Companies’s quarterly revenue was up 30.1% compared to the same quarter last year. Research analysts predict that Lowe’s Companies, Inc. will post 8.39 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Wednesday, October 21st will be paid a $0.60 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, October 20th. Lowe’s Companies’s payout ratio is presently 38.46%.

Several research analysts have commented on LOW shares. Barclays raised their price objective on Lowe’s Companies from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Truist Financial lifted their target price on Lowe’s Companies from $135.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. BofA Securities lifted their target price on Lowe’s Companies from $176.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Longbow Research lifted their target price on Lowe’s Companies from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, Piper Sandler lifted their target price on Lowe’s Companies from $170.00 to $185.00 in a research report on Thursday, August 20th. Three investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $165.75.

In other news, EVP Ross W. Mccanless sold 62,838 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $168.33, for a total transaction of $10,577,520.54. Following the completion of the transaction, the executive vice president now directly owns 72,967 shares in the company, valued at $12,282,535.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.07% of the company’s stock.

Lowe’s Companies Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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

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