Arizona State Retirement System Has $23.08 Million Stake in Lowe’s Companies, Inc. (LOW)

Arizona State Retirement System lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 201,010 shares of the home improvement retailer’s stock after selling 885 shares during the quarter. Arizona State Retirement System’s holdings in Lowe’s Companies were worth $23,080,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Woodstock Corp increased its stake in shares of Lowe’s Companies by 37.3% in the 3rd quarter. Woodstock Corp now owns 8,975 shares of the home improvement retailer’s stock valued at $1,031,000 after purchasing an additional 2,440 shares in the last quarter. BTC Capital Management Inc. increased its stake in shares of Lowe’s Companies by 8.5% in the 2nd quarter. BTC Capital Management Inc. now owns 44,138 shares of the home improvement retailer’s stock valued at $4,219,000 after purchasing an additional 3,470 shares in the last quarter. Bremer Trust National Association purchased a new position in shares of Lowe’s Companies in the 2nd quarter valued at about $228,000. Verition Fund Management LLC increased its stake in shares of Lowe’s Companies by 463.6% in the 2nd quarter. Verition Fund Management LLC now owns 52,429 shares of the home improvement retailer’s stock valued at $5,011,000 after purchasing an additional 43,126 shares in the last quarter. Finally, First American Bank purchased a new position in shares of Lowe’s Companies in the 3rd quarter valued at about $10,048,000. 74.60% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on the company. Loop Capital set a $130.00 price target on Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, October 24th. Citigroup upgraded Lowe’s Companies from a “neutral” rating to a “buy” rating and set a $112.00 price target for the company in a research note on Tuesday, October 23rd. Morgan Stanley cut their price target on Lowe’s Companies from $125.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, October 23rd. Credit Suisse Group restated a “neutral” rating and issued a $111.00 price target (down previously from $115.00) on shares of Lowe’s Companies in a research note on Wednesday, October 17th. Finally, Wedbush set a $115.00 price target on Lowe’s Companies and gave the company a “neutral” rating in a research note on Monday, October 15th. Eight equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Lowe’s Companies presently has a consensus rating of “Buy” and an average price target of $112.11.



In other news, CFO Marshall A. Croom sold 15,735 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total transaction of $1,803,388.35. Following the transaction, the chief financial officer now directly owns 63,099 shares in the company, valued at approximately $7,231,776.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lisa W. Wardell bought 273 shares of the stock in a transaction dated Friday, August 24th. The shares were bought at an average price of $107.72 per share, for a total transaction of $29,407.56. Following the completion of the acquisition, the director now owns 273 shares in the company, valued at $29,407.56. The disclosure for this purchase can be found here. Insiders own 0.30% of the company’s stock.

NYSE:LOW opened at $94.74 on Wednesday. The company has a market cap of $75.80 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.26 and a beta of 1.39. Lowe’s Companies, Inc. has a 12 month low of $75.36 and a 12 month high of $117.70. The company has a quick ratio of 0.25, a current ratio of 1.06 and a debt-to-equity ratio of 2.58.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.05. The business had revenue of $20.89 billion for the quarter, compared to analysts’ expectations of $20.79 billion. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 EPS. Equities research analysts forecast that Lowe’s Companies, Inc. will post 5.19 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Stockholders of record on Wednesday, October 24th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Tuesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 43.74%.

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. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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

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