Canada Pension Plan Investment Board Raises Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Canada Pension Plan Investment Board lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 26.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 263,239 shares of the home improvement retailer’s stock after acquiring an additional 55,446 shares during the period. Canada Pension Plan Investment Board’s holdings in Lowe’s Companies were worth $64,967,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LOW. IFS Advisors LLC acquired a new position in Lowe’s Companies in the fourth quarter valued at $25,000. Marshall Investment Management LLC acquired a new position in Lowe’s Companies in the 4th quarter valued at about $31,000. Winch Advisory Services LLC raised its stake in Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 44 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new stake in Lowe’s Companies during the 4th quarter worth approximately $33,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at approximately $44,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $219.01 on Friday. The firm has a market cap of $122.58 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. Lowe’s Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The firm’s 50 day moving average price is $232.59 and its 200 day moving average price is $252.76.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (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 negative return on equity of 47.55% and a net margin of 8.19%. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The business 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. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 2.10%. Lowe’s Companies’s payout ratio is 37.67%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LOW. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research note on Tuesday. Mizuho cut their target price on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. DA Davidson restated a “neutral” rating and issued a $270.00 price target on shares of Lowe’s Companies in a research note on Wednesday. Royal Bank of Canada reduced their target price on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $278.74.

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.