Allen Investment Management LLC boosted its position in Lowe's Companies, Inc. (NYSE:LOW) by 18.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 556,426 shares of the home improvement retailer’s stock after purchasing an additional 87,245 shares during the period. Lowe's Companies makes up about 2.0% of Allen Investment Management LLC’s portfolio, making the stock its 20th largest holding. Allen Investment Management LLC owned 0.07% of Lowe's Companies worth $44,481,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LOW. Vanguard Group Inc. increased its holdings in shares of Lowe's Companies by 1.4% in the second quarter. Vanguard Group Inc. now owns 64,769,014 shares of the home improvement retailer’s stock valued at $5,021,542,000 after buying an additional 897,911 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Lowe's Companies by 1,757.3% in the first quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock valued at $5,045,875,000 after buying an additional 58,073,138 shares in the last quarter. FMR LLC increased its holdings in shares of Lowe's Companies by 62.6% in the second quarter. FMR LLC now owns 9,694,439 shares of the home improvement retailer’s stock valued at $751,610,000 after buying an additional 3,732,153 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Lowe's Companies by 0.7% in the second quarter. Ameriprise Financial Inc. now owns 9,281,474 shares of the home improvement retailer’s stock valued at $719,560,000 after buying an additional 64,780 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Lowe's Companies by 8.2% in the first quarter. Geode Capital Management LLC now owns 8,848,938 shares of the home improvement retailer’s stock valued at $726,481,000 after buying an additional 671,581 shares in the last quarter. Hedge funds and other institutional investors own 73.14% of the company’s stock.
Shares of Lowe's Companies, Inc. (NYSE:LOW) opened at $91.19 on Friday. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.12 and a current ratio of 1.02. Lowe's Companies, Inc. has a one year low of $70.49 and a one year high of $91.25. The stock has a market cap of $75,284.18, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.37 and a beta of 1.15.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe's Companies’s dividend payout ratio is currently 39.33%.
In other news, insider Nelson B. Peace sold 3,352 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $80.20, for a total transaction of $268,830.40. Following the transaction, the insider now directly owns 4,650 shares in the company, valued at approximately $372,930. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.
Several research analysts have issued reports on the company. Jefferies Group reaffirmed a “hold” rating and issued a $75.00 price target on shares of Lowe's Companies in a report on Thursday, September 28th. Guggenheim assumed coverage on Lowe's Companies in a report on Tuesday, December 12th. They issued a “buy” rating and a $95.00 price target on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $80.00 price target on shares of Lowe's Companies in a report on Friday, September 29th. Gordon Haskett assumed coverage on Lowe's Companies in a report on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price target on the stock. Finally, Zacks Investment Research raised Lowe's Companies from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $87.66.
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Lowe's Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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