State of Michigan Retirement System Sells 1,200 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

State of Michigan Retirement System trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,970 shares of the home improvement retailer’s stock after selling 1,200 shares during the quarter. State of Michigan Retirement System’s holdings in Lowe’s Companies were worth $38,000,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LOW. FMR LLC grew its position in Lowe’s Companies by 10.2% during the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after buying an additional 2,399,897 shares during the period. Strategic Financial Concepts LLC boosted its position in shares of Lowe’s Companies by 24,531.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after purchasing an additional 1,223,116 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Lowe’s Companies by 42,529.8% in the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock worth $208,843,000 after purchasing an additional 844,217 shares during the period. Applied Finance Capital Management LLC boosted its position in shares of Lowe’s Companies by 387.7% in the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after purchasing an additional 645,017 shares during the period. Finally, State Street Corp boosted its position in shares of Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after purchasing an additional 460,851 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on LOW. Mizuho dropped their price target on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company upped their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Guggenheim reiterated a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Sanford C. Bernstein upped their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, 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 report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target of $280.83.

Lowe’s Companies Trading Down 1.2 %

Shares of LOW opened at $245.64 on Tuesday. Lowe’s Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01. The company has a market cap of $138.70 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.96 and a beta of 1.11. The company’s fifty day simple moving average is $252.49 and its 200-day simple moving average is $259.24.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

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.