Lowe's Companies, Inc. (NYSE:LOW) Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Lowe's Companies by 8.1%, owning approximately $114.1 million worth of shares.
• Lowe's reported $2.92 earnings per share for the most recent quarter, exceeding analysts' expectations of $2.88.
• The company declared a quarterly dividend of $1.20, which reflects a positive change from the previous dividend of $1.15, with a current yield of 2.0%.

Public Sector Pension Investment Board increased its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 489,388 shares of the home improvement retailer's stock after acquiring an additional 36,815 shares during the period. Public Sector Pension Investment Board owned about 0.09% of Lowe's Companies worth $114,140,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LOW. Wood Tarver Financial Group LLC acquired a new stake in shares of Lowe's Companies during the 4th quarter worth about $25,000. Fairway Wealth LLC acquired a new stake in shares of Lowe's Companies during the 1st quarter worth about $32,000. Orion Capital Management LLC acquired a new stake in shares of Lowe's Companies during the 4th quarter worth about $36,000. Inlight Wealth Management LLC acquired a new stake in shares of Lowe's Companies during the 1st quarter worth about $36,000. Finally, IFS Advisors LLC raised its position in shares of Lowe's Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Price Performance

Shares of NYSE LOW opened at $241.37 on Monday. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The business has a 50-day moving average of $224.39 and a 200-day moving average of $230.57. The company has a market capitalization of $135.27 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.28 and a beta of 0.89.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the prior year, the business earned $3.06 earnings per share. The company's revenue was down 2.0% compared to the same quarter last year. Research analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date was Wednesday, July 23rd. Lowe's Companies's payout ratio is presently 39.77%.

Insider Activity at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the transaction, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Mizuho reissued an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a research report on Friday, June 13th. JPMorgan Chase & Co. cut their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Guggenheim restated a "buy" rating and set a $300.00 price target on shares of Lowe's Companies in a research note on Tuesday, July 22nd. Finally, Royal Bank Of Canada dropped their price target on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $270.68.

About Lowe's Companies

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.

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