Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 46.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,247,810 shares of the home improvement retailer’s stock after selling 1,095,555 shares during the period. Lowe’s Companies accounts for 3.7% of Ontario Teachers Pension Plan Board’s holdings, making the stock its 9th largest holding. Ontario Teachers Pension Plan Board’s holdings in Lowe’s Companies were worth $307,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. IFS Advisors LLC bought a new position in Lowe’s Companies in the fourth quarter valued at about $25,000. Winch Advisory Services LLC boosted its position in 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 worth $30,000 after buying an additional 44 shares during the period. Marshall Investment Management LLC bought a new stake in Lowe’s Companies during the 4th quarter worth approximately $31,000. Caisse Des Depots ET Consignations acquired a new position in Lowe’s Companies in the 4th quarter valued at approximately $33,000. Finally, Millstone Evans Group LLC bought a new position in shares of Lowe’s Companies during the fourth quarter valued at $44,000. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LOW. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Tuesday. Bank of America reduced their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Truist Financial lowered their price target on shares of Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Finally, Piper Sandler cut 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $278.74.

Lowe’s Companies Price Performance

LOW opened at $224.25 on Tuesday. The firm’s fifty day moving average price is $235.57 and its two-hundred day moving average price is $253.99. The company has a market capitalization of $125.51 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.96 and a beta of 1.07. Lowe’s Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01.

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

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 2.05%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

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.