State of Michigan Retirement System lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 9.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 192,873 shares of the home improvement retailer’s stock after purchasing an additional 17,198 shares during the period. State of Michigan Retirement System’s holdings in Lowe’s Companies were worth $26,061,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LOW. State Street Corp boosted its stake in Lowe’s Companies by 2.7% in the first quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock valued at $3,047,351,000 after acquiring an additional 922,369 shares during the last quarter. Geode Capital Management LLC boosted its stake in Lowe’s Companies by 0.5% in the first quarter. Geode Capital Management LLC now owns 10,403,533 shares of the home improvement retailer’s stock valued at $893,464,000 after acquiring an additional 47,959 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Lowe’s Companies by 31.7% in the first quarter. Nuveen Asset Management LLC now owns 8,170,002 shares of the home improvement retailer’s stock valued at $703,029,000 after acquiring an additional 1,966,342 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Lowe’s Companies by 26.9% in the first quarter. Bank of New York Mellon Corp now owns 7,782,725 shares of the home improvement retailer’s stock valued at $669,704,000 after acquiring an additional 1,647,977 shares during the last quarter. Finally, Viking Global Investors LP boosted its stake in Lowe’s Companies by 23.6% in the first quarter. Viking Global Investors LP now owns 5,470,144 shares of the home improvement retailer’s stock valued at $470,706,000 after acquiring an additional 1,045,758 shares during the last quarter. 74.49% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on the stock. Robert W. Baird raised their price objective on shares of Lowe’s Companies from $115.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, May 18th. KeyCorp lifted their price target on shares of Lowe’s Companies from $130.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Gordon Haskett raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $151.00 in a research report on Tuesday, June 2nd. Royal Bank of Canada lifted their price target on shares of Lowe’s Companies from $136.00 to $165.00 in a research report on Friday, July 24th. Finally, UBS Group lifted their price target on shares of Lowe’s Companies from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $140.86.

LOW stock traded down $0.29 during midday trading on Friday, hitting $148.91. The company’s stock had a trading volume of 3,928,596 shares, compared to its average volume of 3,264,570. The company has a debt-to-equity ratio of 14.05, a current ratio of 1.20 and a quick ratio of 0.42. Lowe’s Companies, Inc. has a twelve month low of $60.00 and a twelve month high of $149.92. The company’s fifty day moving average price is $137.36 and its 200 day moving average price is $116.11. The stock has a market capitalization of $112.65 billion, a P/E ratio of 25.15, a PEG ratio of 1.42 and a beta of 1.44.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, May 20th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.45. Lowe’s Companies had a net margin of 6.17% and a return on equity of 220.44%. The firm had revenue of $19.68 billion for the quarter, compared to analyst estimates of $18.33 billion. During the same period in the previous year, the business earned $1.22 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. Equities analysts expect that Lowe’s Companies, Inc. will post 6.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, July 21st. This represents a $2.20 annualized dividend and a dividend yield of 1.48%. Lowe’s Companies’s dividend payout ratio is presently 38.46%.

Lowe’s Companies Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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