Lowe's Companies, Inc. (NYSE:LOW) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama raised its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 315,604 shares of the home improvement retailer's stock after purchasing an additional 13,713 shares during the period. Retirement Systems of Alabama owned 0.06% of Lowe's Companies worth $73,608,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its stake in Lowe's Companies by 1.0% during the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock valued at $6,483,558,000 after purchasing an additional 259,766 shares during the period. Geode Capital Management LLC raised its position in shares of Lowe's Companies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock worth $2,952,341,000 after buying an additional 245,876 shares in the last quarter. Norges Bank bought a new stake in shares of Lowe's Companies during the 4th quarter worth about $1,842,954,000. Northern Trust Corp raised its position in shares of Lowe's Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after buying an additional 993,833 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Lowe's Companies by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock worth $1,242,793,000 after buying an additional 323,371 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe's Companies Stock Performance

Shares of LOW opened at $210.72 on Friday. The company's 50 day moving average price is $223.18 and its 200 day moving average price is $238.45. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The company has a market capitalization of $118.10 billion, a PE ratio of 17.46, a PEG ratio of 1.99 and a beta of 0.92.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the previous year, the firm posted $3.06 earnings per share. The firm's revenue was down 2.0% on a year-over-year basis. On average, equities analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.28%. Lowe's Companies's payout ratio is presently 38.11%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Robert W. Baird dropped their price target on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Telsey Advisory Group restated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Wednesday, May 21st. Piper Sandler dropped their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Finally, Sanford C. Bernstein set a $266.00 price target on shares of Lowe's Companies and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $271.12.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the sale, the executive vice president now directly owns 31,898 shares of the company's stock, valued at $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 is available at this hyperlink. 0.27% of the stock is currently owned by insiders.

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.

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