Teacher Retirement System of Texas boosted its position in shares of Lowe’s Cos. (NYSE:LOW) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,552,356 shares of the home improvement retailer’s stock after buying an additional 13,480 shares during the period. Lowe’s Cos. makes up approximately 0.8% of Teacher Retirement System of Texas’ holdings, making the stock its 20th largest position. Teacher Retirement System of Texas owned 0.18% of Lowe’s Cos. worth $122,900,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CWM LLC raised its position in shares of Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock worth $100,000 after buying an additional 4 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Lowe’s Cos. during the second quarter worth $103,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Lowe’s Cos. during the second quarter worth $110,000. Global X Management Co. LLC raised its position in shares of Lowe’s Cos. by 623.3% in the second quarter. Global X Management Co. LLC now owns 1,555 shares of the home improvement retailer’s stock worth $123,000 after buying an additional 1,340 shares in the last quarter. Finally, Washington Trust Bank raised its position in shares of Lowe’s Cos. by 13.6% in the second quarter. Washington Trust Bank now owns 1,596 shares of the home improvement retailer’s stock worth $126,000 after buying an additional 191 shares in the last quarter. 75.07% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Cos. (NYSE:LOW) traded up 0.20% on Tuesday, hitting $71.45. The stock had a trading volume of 2,517,630 shares. Lowe’s Cos. has a one year low of $62.62 and a one year high of $83.65. The company’s 50-day moving average price is $77.30 and its 200 day moving average price is $77.38. The firm has a market cap of $62.49 billion, a price-to-earnings ratio of 23.16 and a beta of 1.07.

Lowe’s Cos. (NYSE:LOW) last posted its earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by $0.04. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. The company earned $18.26 billion during the quarter, compared to analysts’ expectations of $18.42 billion. During the same period in the previous year, the company posted $1.20 EPS. Lowe’s Cos.’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts expect that Lowe’s Cos. will post $4.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Monday, October 17th. Lowe’s Cos.’s payout ratio is currently 45.16%.

A number of analysts have recently commented on LOW shares. Stifel Nicolaus started coverage on Lowe’s Cos. in a research note on Tuesday, August 2nd. They issued a “buy” rating and a $100.00 target price on the stock. Goldman Sachs Group Inc. restated a “buy” rating on shares of Lowe’s Cos. in a research note on Wednesday, July 6th. Peel Hunt restated a “buy” rating and issued a $85.00 target price on shares of Lowe’s Cos. in a research note on Wednesday, July 6th. Vetr downgraded Lowe’s Cos. from a “strong-buy” rating to a “buy” rating and set a $86.38 target price on the stock. in a research note on Monday, June 20th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $86.00 target price on shares of Lowe’s Cos. in a research note on Thursday, June 16th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Lowe’s Cos. presently has an average rating of “Buy” and an average target price of $85.74.

About Lowe’s Cos.

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

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