M Holdings Securities Inc. reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,747 shares of the home improvement retailer’s stock after selling 228 shares during the quarter. M Holdings Securities Inc.’s holdings in Lowe’s Companies were worth $623,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Gladius Capital Management LP purchased a new position in Lowe’s Companies during the 4th quarter valued at about $1,251,000. Hancock Whitney Corp boosted its position in shares of Lowe’s Companies by 78.4% in the fourth quarter. Hancock Whitney Corp now owns 14,900 shares of the home improvement retailer’s stock worth $1,376,000 after acquiring an additional 6,547 shares during the last quarter. Legal & General Group Plc lifted its position in Lowe’s Companies by 7.6% during the fourth quarter. Legal & General Group Plc now owns 4,093,938 shares of the home improvement retailer’s stock valued at $378,106,000 after buying an additional 287,874 shares in the last quarter. BRYN MAWR TRUST Co lifted its position in Lowe’s Companies by 4.7% during the fourth quarter. BRYN MAWR TRUST Co now owns 17,677 shares of the home improvement retailer’s stock valued at $1,632,000 after buying an additional 799 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Lowe’s Companies by 4.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,700,148 shares of the home improvement retailer’s stock valued at $157,080,000 after buying an additional 69,637 shares in the last quarter. Hedge funds and other institutional investors own 76.33% of the company’s stock.
Shares of NYSE LOW traded down $3.38 during trading hours on Friday, hitting $113.74. The stock had a trading volume of 6,321,446 shares, compared to its average volume of 4,314,645. The stock has a market cap of $90.53 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.32 and a beta of 1.27. Lowe’s Companies, Inc. has a 52 week low of $81.16 and a 52 week high of $118.23. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.11 and a current ratio of 0.98.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.69%. Lowe’s Companies’s payout ratio is currently 37.35%.
A number of research analysts have weighed in on LOW shares. ValuEngine cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Barclays lowered shares of Lowe’s Companies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $120.00 to $105.00 in a research note on Wednesday, January 9th. Zacks Investment Research upgraded shares of Lowe’s Companies from a “hold” rating to a “strong-buy” rating and set a $109.00 price objective on the stock in a research note on Wednesday, January 23rd. Wedbush lifted their price target on shares of Lowe’s Companies from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, February 28th. Finally, Evercore ISI initiated coverage on shares of Lowe’s Companies in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $120.00 price target for the company. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $114.52.
Lowe’s Companies Company 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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