State of New Jersey Common Pension Fund D Grows Stake in Lowe’s Companies, Inc. $LOW

State of New Jersey Common Pension Fund D raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 196,084 shares of the home improvement retailer’s stock after buying an additional 7,854 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lowe’s Companies were worth $49,278,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in Lowe’s Companies in the second quarter valued at $1,773,624,000. Tableaux LLC bought a new stake in shares of Lowe’s Companies during the 2nd quarter valued at about $282,884,000. Laurel Wealth Advisors LLC increased its position in shares of Lowe’s Companies by 22,167.5% during the second quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock valued at $229,041,000 after buying an additional 1,027,683 shares during the period. Worldquant Millennium Advisors LLC raised its stake in Lowe’s Companies by 243.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,116,945 shares of the home improvement retailer’s stock worth $247,817,000 after buying an additional 791,526 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Lowe’s Companies by 101.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,244,941 shares of the home improvement retailer’s stock valued at $312,866,000 after acquiring an additional 626,829 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Bank of America decreased their price objective on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Argus lowered their price objective on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. TD Cowen boosted their target price on shares of Lowe’s Companies from $250.00 to $295.00 and gave the company a “hold” rating in a report on Tuesday, January 20th. Finally, UBS Group decreased their price target on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Twenty investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.30.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $287.36 on Friday. The stock has a market cap of $161.19 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 4.48 and a beta of 0.97. The firm’s 50-day moving average is $261.04 and its 200 day moving average is $251.73. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $293.06.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business earned $2.89 EPS. On average, equities analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.