Kentucky Retirement Systems Sells 558 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Kentucky Retirement Systems lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,118 shares of the home improvement retailer’s stock after selling 558 shares during the quarter. Kentucky Retirement Systems’ holdings in Lowe’s Companies were worth $9,506,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Drive Wealth Management LLC raised its holdings in shares of Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 41 shares in the last quarter. Crown Wealth Group LLC raised its holdings in Lowe’s Companies by 4.4% in the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after acquiring an additional 44 shares during the last quarter. Pure Financial Advisors LLC boosted its position in shares of Lowe’s Companies by 2.5% during the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after buying an additional 45 shares during the last quarter. BLB&B Advisors LLC grew its stake in shares of Lowe’s Companies by 2.2% in 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 period. Finally, First Bank & Trust raised its stake in Lowe’s Companies by 3.1% during the 1st quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock valued at $384,000 after buying an additional 46 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Down 0.0 %

Lowe’s Companies stock opened at $256.63 on Thursday. The company has a fifty day simple moving average of $242.43 and a 200-day simple moving average of $235.09. The firm has a market capitalization of $146.24 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.56 EPS. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Bank of America reduced their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Morgan Stanley raised their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI raised their price objective on shares of 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. UBS Group raised their price target 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. Finally, Gordon Haskett cut their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $252.83.

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.