Cambria Investment Management L.P. decreased its holdings in Lowe's Companies, Inc. (NYSE:LOW) by 4.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,390 shares of the home improvement retailer’s stock after selling 930 shares during the quarter. Cambria Investment Management L.P.’s holdings in Lowe's Companies were worth $1,710,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Lowe's Companies by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 64,769,014 shares of the home improvement retailer’s stock worth $5,021,542,000 after purchasing an additional 897,911 shares during the period. FMR LLC raised its holdings in Lowe's Companies by 62.6% in the 2nd quarter. FMR LLC now owns 9,694,439 shares of the home improvement retailer’s stock worth $751,610,000 after purchasing an additional 3,732,153 shares during the period. Ameriprise Financial Inc. increased its stake in Lowe's Companies by 0.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 9,281,474 shares of the home improvement retailer’s stock worth $719,560,000 after buying an additional 64,780 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Lowe's Companies by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,332,702 shares of the home improvement retailer’s stock worth $666,117,000 after buying an additional 229,746 shares in the last quarter. Finally, Glenview Capital Management LLC increased its stake in Lowe's Companies by 21.4% during the 2nd quarter. Glenview Capital Management LLC now owns 6,621,609 shares of the home improvement retailer’s stock worth $513,373,000 after buying an additional 1,168,950 shares in the last quarter. 73.12% of the stock is owned by institutional investors.
Lowe's Companies, Inc. (NYSE:LOW) opened at $95.74 on Friday. Lowe's Companies, Inc. has a twelve month low of $70.76 and a twelve month high of $95.78. The company has a market capitalization of $79,440.00, a P/E ratio of 23.01, a P/E/G ratio of 1.43 and a beta of 1.14. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.02 and a quick ratio of 0.12.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, January 23rd. Lowe's Companies’s dividend payout ratio (DPR) is 39.42%.
In other Lowe's Companies news, insider Nelson B. Peace sold 3,352 shares of the company’s stock in a transaction on Monday, November 27th. The stock was 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 $372,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate insiders.
Several equities research analysts have commented on LOW shares. BMO Capital Markets reiterated a “hold” rating and set a $82.00 price objective on shares of Lowe's Companies in a research note on Thursday, November 2nd. Raymond James Financial upgraded Lowe's Companies from a “market perform” rating to an “outperform” rating and set a $87.00 price objective for the company in a research note on Monday, November 27th. UBS Group upgraded Lowe's Companies from a “market perform” rating to an “outperform” rating in a research note on Monday, November 27th. Zacks Investment Research upgraded Lowe's Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Robert W. Baird reiterated a “buy” rating and set a $92.00 price objective (up from $87.00) on shares of Lowe's Companies in a research note on Wednesday, November 22nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $88.62.
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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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