Arizona State Retirement System Grows Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Arizona State Retirement System increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 164,253 shares of the home improvement retailer’s stock after buying an additional 867 shares during the period. Arizona State Retirement System’s holdings in Lowe’s Companies were worth $40,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC bought a new position in shares of Lowe’s Companies during the third quarter valued at $27,000. IFS Advisors LLC bought a new stake in Lowe’s Companies during the 4th quarter valued at about $25,000. Marshall Investment Management LLC purchased a new position in Lowe’s Companies in the fourth quarter worth about $31,000. JNBA Financial Advisors raised its holdings in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 100 shares during the last quarter. Finally, Winch Advisory Services LLC grew its holdings in shares of Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 44 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein boosted their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Truist Financial reduced their price objective on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada lowered their target price on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Bank of America lowered their price objective on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, DA Davidson raised their price target on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $239.71 on Wednesday. The firm’s 50 day moving average price is $252.28 and its 200-day moving average price is $259.23. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The stock has a market cap of $135.35 billion, a P/E ratio of 19.99, a PEG ratio of 1.96 and a beta of 1.11.

Lowe’s Companies (NYSE:LOW) last announced its quarterly 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 business 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 expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

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.