CI Investments Inc. decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 83.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,492 shares of the home improvement retailer’s stock after selling 435,102 shares during the period. CI Investments Inc.’s holdings in Lowe’s Companies were worth $7,896,000 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 the stock. CNB Bank bought a new position in shares of Lowe’s Companies in the fourth quarter worth about $46,000. Capital Financial Planning LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth about $46,000. Ironwood Financial llc grew its position in Lowe’s Companies by 171.0% during the fourth quarter. Ironwood Financial llc now owns 542 shares of the home improvement retailer’s stock worth $50,000 after buying an additional 342 shares in the last quarter. Contravisory Investment Management Inc. grew its position in Lowe’s Companies by 360.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 654 shares of the home improvement retailer’s stock worth $60,000 after buying an additional 512 shares in the last quarter. Finally, Mascoma Wealth Management LLC grew its position in Lowe’s Companies by 76.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 690 shares of the home improvement retailer’s stock worth $64,000 after buying an additional 300 shares in the last quarter. 76.33% of the stock is owned by hedge funds and other institutional investors.
LOW stock traded down $3.38 during trading on Friday, hitting $113.74. The company had a trading volume of 6,321,446 shares, compared to its average volume of 4,314,645. The company has a debt-to-equity ratio of 3.95, a current ratio of 0.98 and a quick ratio of 0.11. Lowe’s Companies, Inc. has a 12 month low of $81.16 and a 12 month high of $118.23. The stock has a market capitalization of $90.53 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.32 and a beta of 1.27.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.35%.
A number of equities research analysts recently weighed in on LOW shares. ValuEngine raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. Barclays downgraded Lowe’s Companies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $120.00 to $105.00 in a research report on Wednesday, January 9th. Loop Capital downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “strong-buy” rating and set a $109.00 price objective on the stock in a report on Wednesday, January 23rd. Finally, Robert W. Baird lifted their price objective on Lowe’s Companies from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, February 27th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $114.52.
About Lowe’s Companies
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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