Texas Permanent School Fund Corp Cuts Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Texas Permanent School Fund Corp lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 20.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,617 shares of the home improvement retailer’s stock after selling 24,264 shares during the period. Texas Permanent School Fund Corp’s holdings in Lowe’s Companies were worth $20,859,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Drive Wealth Management LLC grew its holdings in shares of Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 41 shares in the last quarter. Crown Wealth Group LLC raised its position in shares of Lowe’s Companies by 4.4% during the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock valued at $232,000 after buying an additional 44 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in shares of Lowe’s Companies by 2.5% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after acquiring an additional 45 shares during the last quarter. BLB&B Advisors LLC increased its stake in Lowe’s Companies by 2.2% during the second quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock worth $454,000 after acquiring an additional 45 shares during the last quarter. Finally, First Bank & Trust raised 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 purchasing an additional 46 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Down 0.4 %

Shares of NYSE:LOW traded down $0.99 on Monday, hitting $242.82. 105,480 shares of the company were exchanged, compared to its average volume of 2,499,408. The stock’s 50 day moving average price is $236.53 and its 200 day moving average price is $234.20. The firm has a market capitalization of $137.75 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. 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 released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the company posted $4.56 earnings per share. The company’s revenue was down 5.5% compared to the same quarter last year. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Analysts Set New Price Targets

LOW has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. UBS Group upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Morgan Stanley raised their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, Evercore ISI increased their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $252.83.

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.