Cigna Investments Inc. New lessened its holdings in Lowe's Companies, Inc. (NYSE:LOW) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,784 shares of the home improvement retailer’s stock after selling 1,961 shares during the quarter. Cigna Investments Inc. New’s holdings in Lowe's Companies were worth $3,419,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Atlantic Trust LLC acquired a new stake in Lowe's Companies in the 2nd quarter valued at $105,000. Stonehearth Capital Management LLC purchased a new position in Lowe's Companies during the 4th quarter worth $112,000. Cerebellum GP LLC purchased a new position in Lowe's Companies during the 4th quarter worth $129,000. Motco boosted its holdings in Lowe's Companies by 33.4% during the 2nd quarter. Motco now owns 1,725 shares of the home improvement retailer’s stock worth $134,000 after acquiring an additional 432 shares during the last quarter. Finally, Horan Capital Advisors LLC. purchased a new position in Lowe's Companies during the 3rd quarter worth $134,000. Hedge funds and other institutional investors own 72.41% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a $103.00 price objective on shares of Lowe's Companies in a research note on Friday, December 22nd. Zacks Investment Research upgraded Lowe's Companies from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research note on Friday, February 2nd. Jefferies Group upgraded Lowe's Companies from a “hold” rating to a “buy” rating and upped their price target for the company from $81.00 to $129.00 in a research report on Monday, February 5th. Robert W. Baird set a $87.00 price objective on Lowe's Companies and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, Telsey Advisory Group boosted their price objective on Lowe's Companies from $79.00 to $83.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $96.35.
Lowe's Companies (NYSE:LOW) last announced its earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.03. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The business had revenue of $16.77 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same period last year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. equities analysts anticipate that Lowe's Companies, Inc. will post 4.53 EPS for the current fiscal year.
Lowe's Companies declared that its board has authorized a stock repurchase plan on Friday, January 26th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Nelson B. Peace sold 3,352 shares of Lowe's Companies stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $80.20, for a total transaction of $268,830.40. Following the sale, the insider now owns 4,650 shares of the company’s stock, valued at approximately $372,930. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by company insiders.
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About Lowe's Companies
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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