Douglass Winthrop Advisors LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 12.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,855 shares of the home improvement retailer’s stock after selling 553 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Lowe’s Companies were worth $782,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Winslow Capital Management LLC purchased a new stake in Lowe’s Companies during the 2nd quarter worth approximately $418,413,000. Amundi acquired a new position in shares of Lowe’s Companies in the second quarter worth $395,458,000. Nordea Investment Management AB increased its position in shares of Lowe’s Companies by 96.3% during the third quarter. Nordea Investment Management AB now owns 3,380,885 shares of the home improvement retailer’s stock worth $698,964,000 after acquiring an additional 1,658,293 shares during the period. First Trust Advisors LP increased its position in shares of Lowe’s Companies by 777.5% during the second quarter. First Trust Advisors LP now owns 1,328,409 shares of the home improvement retailer’s stock worth $257,671,000 after acquiring an additional 1,177,029 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Lowe’s Companies by 837.8% in the second quarter. Renaissance Technologies LLC now owns 916,200 shares of the home improvement retailer’s stock valued at $177,715,000 after acquiring an additional 818,500 shares in the last quarter. Hedge funds and other institutional investors own 74.17% of the company’s stock.
NYSE LOW traded down $4.65 during mid-day trading on Friday, hitting $246.05. The company’s stock had a trading volume of 40,021 shares, compared to its average volume of 3,358,986. Lowe’s Companies, Inc. has a 52-week low of $150.84 and a 52-week high of $263.31. The stock’s fifty day simple moving average is $249.51 and its two-hundred day simple moving average is $220.37. The firm has a market capitalization of $165.78 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31. The company has a debt-to-equity ratio of 49.23, a current ratio of 1.19 and a quick ratio of 0.39.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 2nd. Investors of record on Wednesday, January 19th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, January 18th. Lowe’s Companies’s dividend payout ratio (DPR) is 27.80%.
Lowe’s Companies announced that its board has authorized a share repurchase program on Wednesday, December 15th that authorizes the company to buyback $13.00 billion in shares. This buyback authorization authorizes the home improvement retailer to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
Several equities analysts have recently issued reports on LOW shares. Barclays lifted their price objective on Lowe’s Companies from $215.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, November 18th. DA Davidson boosted their price target on shares of Lowe’s Companies from $286.00 to $292.00 in a report on Thursday, December 30th. Piper Sandler increased their price objective on Lowe’s Companies from $231.00 to $295.00 and gave the company an “overweight” rating in a report on Thursday, November 18th. Wedbush boosted their price target on shares of Lowe’s Companies from $210.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, November 18th. Finally, Morgan Stanley boosted their price objective on Lowe’s Companies from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Thursday, December 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $258.71.
Lowe’s Companies Company Profile
Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.
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