Utah Retirement Systems Has $23.46 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Utah Retirement Systems raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 95,055 shares of the home improvement retailer’s stock after acquiring an additional 300 shares during the quarter. Utah Retirement Systems’ holdings in Lowe’s Companies were worth $23,460,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of LOW. Norges Bank acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at $1,842,954,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of Lowe’s Companies by 350.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock valued at $585,770,000 after purchasing an additional 1,846,315 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at $314,435,000. Strategic Financial Concepts LLC boosted its holdings in shares of Lowe’s Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after purchasing an additional 1,223,116 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Lowe’s Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock valued at $1,745,960,000 after purchasing an additional 993,833 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $223.36 on Wednesday. The stock has a market capitalization of $125.02 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.96 and a beta of 1.07. Lowe’s Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The stock’s 50 day moving average price is $228.32 and its two-hundred day moving average price is $250.06.

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

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LOW shares. Mizuho lowered their target price on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 15th. Royal Bank of Canada lowered their price objective on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Bank of America lowered their price objective on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $278.21.

About Lowe’s Companies

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.