Fifth Third Bancorp Has $77.76 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Fifth Third Bancorp cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% during the fourth quarter, Holdings Channel reports. The fund owned 315,071 shares of the home improvement retailer’s stock after selling 6,174 shares during the quarter. Fifth Third Bancorp’s holdings in Lowe’s Companies were worth $77,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. FMR LLC raised its position in shares of Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. International Assets Investment Management LLC raised its holdings in Lowe’s Companies by 1,889.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after acquiring an additional 2,027,668 shares during the period. Applied Finance Capital Management LLC lifted its position in Lowe’s Companies by 387.7% during the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after acquiring an additional 645,017 shares during the last quarter. State Street Corp boosted its holdings in shares of Lowe’s Companies by 1.9% during the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after acquiring an additional 460,851 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Lowe’s Companies by 219.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 458,343 shares of the home improvement retailer’s stock valued at $124,142,000 after purchasing an additional 314,861 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LOW. DA Davidson boosted their price target on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Sanford C. Bernstein raised their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Guggenheim reiterated a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Wells Fargo & Company increased their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Stock Up 0.4 %

Shares of LOW stock opened at $262.35 on Friday. Lowe’s Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01. The stock’s fifty day simple moving average is $259.25 and its 200 day simple moving average is $255.64. The firm has a market capitalization of $148.13 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.16 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Insider Activity

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the sale, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.