New Mexico Educational Retirement Board Increases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

New Mexico Educational Retirement Board boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 26.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,177 shares of the home improvement retailer’s stock after acquiring an additional 8,100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Lowe’s Companies were worth $9,980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $25,000. Orion Capital Management LLC purchased a new position in shares of Lowe’s Companies in the 3rd quarter valued at about $26,000. Tidemark LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $28,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $31,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 0.3 %

Shares of NYSE:LOW traded up $0.66 on Friday, hitting $220.46. The company had a trading volume of 12,630,451 shares, compared to its average volume of 2,428,194. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The business has a 50 day moving average of $225.32 and a 200 day moving average of $228.40. The company has a market cap of $125.63 billion, a PE ratio of 17.71, a PEG ratio of 1.69 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the prior year, the business earned $3.67 earnings per share. The business’s revenue was down 4.4% on a year-over-year basis. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be given a $0.15 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.27%. Lowe’s Companies’s dividend payout ratio is currently 35.34%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LOW. Oppenheimer reiterated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research note on Monday, March 4th. Mizuho began coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They set a “buy” rating and a $280.00 target price for the company. DA Davidson cut their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Zelman & Associates reaffirmed a “neutral” rating and set a $265.00 price target on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $246.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $251.33.

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.