Rockefeller Financial Services Inc. boosted its stake in Lowe's Companies, Inc. (NYSE:LOW) by 953.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,754 shares of the home improvement retailer’s stock after buying an additional 22,404 shares during the period. Rockefeller Financial Services Inc.’s holdings in Lowe's Companies were worth $2,301,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Lowe's Companies by 40.3% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,144,020 shares of the home improvement retailer’s stock valued at $1,210,613,000 after purchasing an additional 4,351,830 shares during the period. FMR LLC boosted its position in Lowe's Companies by 62.6% during the 2nd quarter. FMR LLC now owns 9,694,439 shares of the home improvement retailer’s stock worth $751,610,000 after acquiring an additional 3,732,153 shares during the period. Janus Henderson Group PLC boosted its position in Lowe's Companies by 1,457.8% during the 2nd quarter. Janus Henderson Group PLC now owns 3,787,825 shares of the home improvement retailer’s stock worth $293,669,000 after acquiring an additional 3,544,665 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in Lowe's Companies by 2,147.5% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 2,509,600 shares of the home improvement retailer’s stock worth $200,617,000 after acquiring an additional 2,397,937 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in Lowe's Companies by 196.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 3,284,209 shares of the home improvement retailer’s stock worth $262,540,000 after acquiring an additional 2,177,496 shares during the period. 72.41% of the stock is currently owned by hedge funds and other institutional investors.
Lowe's Companies, Inc. (NYSE:LOW) traded down $0.08 on Thursday, reaching $96.85. The company had a trading volume of 294,554 shares, compared to its average volume of 6,309,580. Lowe's Companies, Inc. has a fifty-two week low of $70.76 and a fifty-two week high of $108.98. The company has a market capitalization of $81,100.00, a price-to-earnings ratio of 23.50, a PEG ratio of 0.90 and a beta of 1.19. The company has a quick ratio of 0.12, a current ratio of 1.02 and a debt-to-equity ratio of 2.71.
Lowe's Companies announced that its board has initiated a stock repurchase plan on Friday, January 26th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
A number of research firms have recently weighed in on LOW. Stifel Nicolaus reaffirmed a “buy” rating and set a $103.00 price target on shares of Lowe's Companies in a research note on Friday, December 22nd. Barclays raised Lowe's Companies from an “equal weight” rating to an “overweight” rating in a report on Friday, January 5th. Sanford C. Bernstein raised Lowe's Companies from an “underperform” rating to an “outperform” rating in a report on Monday, January 22nd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $82.00 price target on shares of Lowe's Companies in a research note on Friday, November 24th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $110.00 price target on shares of Lowe's Companies in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company. Lowe's Companies currently has an average rating of “Buy” and a consensus price target of $96.35.
In related news, insider Nelson B. Peace sold 3,352 shares of the company’s stock in a transaction dated 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 in the company, valued at $372,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.
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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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