State of Michigan Retirement System Sells 1,200 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

State of Michigan Retirement System lessened its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,970 shares of the home improvement retailer’s stock after selling 1,200 shares during the period. State of Michigan Retirement System’s holdings in Lowe’s Companies were worth $38,000,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LOW. IFS Advisors LLC bought a new stake in Lowe’s Companies in the 4th quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in Lowe’s Companies in the 3rd quarter worth $27,000. Winch Advisory Services LLC boosted its stake in shares of Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 44 shares in the last quarter. Marshall Investment Management LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $31,000. Finally, JNBA Financial Advisors boosted its stake in shares of Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 1.2 %

LOW opened at $245.64 on Tuesday. The firm has a 50 day moving average price of $252.49 and a 200-day moving average price of $259.24. Lowe’s Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01. The stock has a market capitalization of $138.70 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.96 and a beta of 1.11.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. As a group, analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research note on Wednesday, February 26th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Guggenheim reaffirmed a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Finally, Truist Financial lowered their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $280.83.

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.