Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 211,618 shares of the home improvement retailer’s stock after selling 8,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Lowe’s Companies were worth $18,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Lowe’s Companies during the 4th quarter valued at approximately $974,104,000. Bank of New York Mellon Corp raised its position in shares of Lowe’s Companies by 26.9% in the 1st quarter. Bank of New York Mellon Corp now owns 7,782,725 shares of the home improvement retailer’s stock worth $669,704,000 after acquiring an additional 1,647,977 shares in the last quarter. M&G Investment Management Ltd. purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at approximately $193,572,000. Franklin Resources Inc. boosted its position in shares of Lowe’s Companies by 118.9% during the fourth quarter. Franklin Resources Inc. now owns 2,605,624 shares of the home improvement retailer’s stock valued at $312,048,000 after purchasing an additional 1,415,464 shares in the last quarter. Finally, FMR LLC grew its stake in Lowe’s Companies by 4.4% in the fourth quarter. FMR LLC now owns 22,726,275 shares of the home improvement retailer’s stock worth $2,721,698,000 after purchasing an additional 952,029 shares during the period. 76.15% of the stock is owned by institutional investors.
Shares of LOW traded up $1.61 during mid-day trading on Friday, hitting $122.25. 6,063,492 shares of the company traded hands, compared to its average volume of 6,207,421. The stock has a market cap of $91.08 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 1.33 and a beta of 1.38. The stock has a 50-day moving average price of $101.42 and a two-hundred day moving average price of $110.02. Lowe’s Companies, Inc. has a 1 year low of $60.00 and a 1 year high of $126.73. The company has a debt-to-equity ratio of 14.05, a quick ratio of 0.14 and a current ratio of 1.20.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Tuesday, April 21st. Lowe’s Companies’s payout ratio is currently 38.46%.
A number of analysts have recently commented on LOW shares. Credit Suisse Group dropped their target price on shares of Lowe’s Companies from $131.00 to $106.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Cfra lifted their price target on shares of Lowe’s Companies from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group upped their price objective on shares of Lowe’s Companies from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Co reiterated a “buy” rating and set a $135.00 target price on shares of Lowe’s Companies in a report on Wednesday. Finally, Telsey Advisory Group reissued an “outperform” rating on shares of Lowe’s Companies in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $132.54.
In other news, CEO Marvin R. Ellison bought 10,000 shares of the stock in a transaction on Friday, March 6th. The shares were bought at an average price of $103.86 per share, with a total value of $1,038,600.00. Following the completion of the acquisition, the chief executive officer now owns 90,090 shares in the company, valued at $9,356,747.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by corporate insiders.
Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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