New York State Common Retirement Fund Sells 27,200 Shares of Lowe's Companies, Inc. (NYSE:LOW)

New York State Common Retirement Fund reduced its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 764,289 shares of the home improvement retailer's stock after selling 27,200 shares during the period. New York State Common Retirement Fund owned about 0.14% of Lowe's Companies worth $178,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LOW. Wood Tarver Financial Group LLC purchased a new stake in shares of Lowe's Companies during the fourth quarter valued at $25,000. Fairway Wealth LLC bought a new stake in shares of Lowe's Companies in the 1st quarter valued at approximately $32,000. Caisse Des Depots ET Consignations acquired a new stake in Lowe's Companies in the 4th quarter worth approximately $33,000. Orion Capital Management LLC acquired a new stake in Lowe's Companies in the 4th quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in Lowe's Companies in the 1st quarter worth approximately $36,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe's Companies Trading Down 0.7%

Shares of NYSE:LOW traded down $1.54 on Monday, reaching $222.59. 2,766,978 shares of the company were exchanged, compared to its average volume of 2,494,763. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The firm has a market cap of $124.75 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 2.12 and a beta of 0.90. The company has a 50-day moving average of $224.14 and a 200-day moving average of $234.03.

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

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.16%. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of research analyst reports. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a report on Wednesday, May 21st. KeyCorp upgraded Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price objective for the company in a research report on Friday, April 25th. DA Davidson dropped their target price on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Stifel Nicolaus dropped their price objective on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. Finally, Mizuho reiterated an "outperform" rating and set a $280.00 price objective on shares of Lowe's Companies in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

Insider Buying and Selling

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company'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 completion of the sale, the executive vice president directly owned 31,898 shares of the company's stock, valued at $7,256,795. This represents a 3.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

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.