Louisiana State Employees Retirement System Sells 300 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Louisiana State Employees Retirement System lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,100 shares of the home improvement retailer’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Lowe’s Companies were worth $8,694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC bought a new stake in shares of Lowe’s Companies in the 1st quarter worth about $239,000. Register Financial Advisors LLC bought a new stake in Lowe’s Companies in the first quarter worth $62,000. Kathmere Capital Management LLC boosted its stake in Lowe’s Companies by 4.6% during the first quarter. Kathmere Capital Management LLC now owns 1,447 shares of the home improvement retailer’s stock worth $369,000 after buying an additional 63 shares during the period. Grimes & Company Inc. boosted its stake in Lowe’s Companies by 1.9% during the first quarter. Grimes & Company Inc. now owns 7,313 shares of the home improvement retailer’s stock worth $1,863,000 after buying an additional 136 shares during the period. Finally, First Bank & Trust increased its position in Lowe’s Companies by 3.1% during the first quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock valued at $384,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $267.64 on Friday. The stock has a market capitalization of $151.83 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.24 and a beta of 1.10. The company’s 50-day simple moving average is $260.81 and its 200-day simple moving average is $239.87. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the previous year, the company earned $4.56 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 38.14%.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. TD Cowen lifted their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday, September 19th. Bank of America upped their target price on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. decreased their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. UBS Group increased their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their target price for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Eleven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus price target of $270.60.

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.