Family Legacy Inc. lessened its holdings in Lowe's Companies, Inc. (NYSE:LOW) by 59.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,000 shares of the home improvement retailer’s stock after selling 11,502 shares during the quarter. Lowe's Companies makes up about 1.6% of Family Legacy Inc.’s investment portfolio, making the stock its 28th largest holding. Family Legacy Inc.’s holdings in Lowe's Companies were worth $640,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Summit Global Investments acquired a new position in Lowe's Companies in the second quarter worth $1,421,000. Ffcm LLC boosted its holdings in Lowe's Companies by 6.4% in the second quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock worth $2,395,000 after purchasing an additional 1,853 shares during the period. Burney Co. boosted its holdings in Lowe's Companies by 3.9% in the second quarter. Burney Co. now owns 145,724 shares of the home improvement retailer’s stock worth $11,162,000 after purchasing an additional 5,453 shares during the period. PGGM Investments lifted its stake in Lowe's Companies by 45.8% in the third quarter. PGGM Investments now owns 986,226 shares of the home improvement retailer’s stock valued at $78,839,000 after buying an additional 309,870 shares during the last quarter. Finally, FIL Ltd lifted its stake in Lowe's Companies by 8.6% in the second quarter. FIL Ltd now owns 1,972,527 shares of the home improvement retailer’s stock valued at $152,931,000 after buying an additional 155,662 shares during the last quarter. 73.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Lowe's Companies, Inc. (LOW) opened at $100.86 on Friday. Lowe's Companies, Inc. has a one year low of $70.76 and a one year high of $102.28. The company has a current ratio of 1.02, a quick ratio of 0.12 and a debt-to-equity ratio of 2.71. The firm has a market cap of $83,690.00, a PE ratio of 24.25, a P/E/G ratio of 1.44 and a beta of 1.14.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Investors 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 dividend yield of 1.63%. The ex-dividend date is Tuesday, January 23rd. Lowe's Companies’s dividend payout ratio is currently 39.42%.
In related news, insider Nelson B. Peace sold 3,352 shares of Lowe's Companies stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $80.20, for a total transaction of $268,830.40. Following the sale, the insider now directly owns 4,650 shares in the company, valued at $372,930. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is owned by insiders.
A number of equities research analysts have issued reports on LOW shares. BMO Capital Markets reiterated a “hold” rating and issued a $82.00 target price 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 target price on the stock 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 issued a $92.00 target price (up from $87.00) on shares of Lowe's Companies in a research note on Wednesday, November 22nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have given a buy rating to the company. Lowe's Companies has an average rating of “Hold” and an average price target of $88.62.
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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