Parsec Financial Management Inc. boosted its stake in Lowe's Companies, Inc. (NYSE:LOW) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,727 shares of the home improvement retailer’s stock after purchasing an additional 11,901 shares during the period. Lowe's Companies makes up about 1.1% of Parsec Financial Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Parsec Financial Management Inc.’s holdings in Lowe's Companies were worth $15,726,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LOW. Bernicke Wealth Management Ltd. acquired a new stake in Lowe's Companies in the 1st quarter valued at $280,000. Peak Asset Management LLC lifted its holdings in Lowe's Companies by 1.6% in the first quarter. Peak Asset Management LLC now owns 10,635 shares of the home improvement retailer’s stock worth $874,000 after acquiring an additional 170 shares during the last quarter. Homrich & Berg bought a new position in Lowe's Companies in the first quarter worth about $215,000. TIAA CREF Investment Management LLC raised its holdings in shares of Lowe's Companies by 16.4% during the first quarter. TIAA CREF Investment Management LLC now owns 4,697,280 shares of the home improvement retailer’s stock valued at $386,163,000 after buying an additional 660,974 shares during the last quarter. Finally, Bridgewater Associates LP raised its holdings in shares of Lowe's Companies by 2.1% during the first quarter. Bridgewater Associates LP now owns 19,612 shares of the home improvement retailer’s stock valued at $1,612,000 after buying an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 73.12% of the company’s stock.
Shares of Lowe's Companies, Inc. (LOW) traded up $0.08 during trading on Friday, reaching $92.94. 3,371,577 shares of the company’s stock traded hands, compared to its average volume of 6,381,537. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.02 and a quick ratio of 0.12. The company has a market capitalization of $77,051.56, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.40 and a beta of 1.15. Lowe's Companies, Inc. has a 1 year low of $70.49 and a 1 year high of $93.55.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be paid a dividend of $0.41 per share. The ex-dividend date is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a yield of 1.76%. Lowe's Companies’s dividend payout ratio is 39.33%.
Several equities research analysts recently commented on the company. Atlantic Securities cut Lowe's Companies from an “overweight” rating to a “neutral” rating and set a $92.00 target price on the stock. in a report on Tuesday, November 28th. Piper Jaffray Companies reissued a “hold” rating and set a $82.00 target price on shares of Lowe's Companies in a report on Friday, November 24th. Stifel Nicolaus reissued a “buy” rating and set a $103.00 target price on shares of Lowe's Companies in a report on Friday, December 22nd. UBS Group boosted their target price on Lowe's Companies from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Finally, Credit Suisse Group set a $88.00 price target on shares of Lowe's Companies and gave the stock a “hold” rating in a research report on Friday, November 24th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $88.00.
In other Lowe's Companies news, insider Nelson B. Peace sold 3,352 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $80.20, for a total transaction of $268,830.40. Following the sale, the insider now directly owns 4,650 shares of the company’s stock, valued at $372,930. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is currently owned by corporate insiders.
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Lowe's Companies Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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