KBC Group NV cut its position in shares of Lowe's Companies, Inc. (NYSE:LOW) by 14.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 280,620 shares of the home improvement retailer’s stock after selling 48,960 shares during the period. KBC Group NV’s holdings in Lowe's Companies were worth $26,081,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Biondo Investment Advisors LLC boosted its stake in shares of Lowe's Companies by 2.3% during the 4th quarter. Biondo Investment Advisors LLC now owns 48,971 shares of the home improvement retailer’s stock worth $4,551,000 after purchasing an additional 1,115 shares during the period. Sabal Trust CO purchased a new position in shares of Lowe's Companies during the 4th quarter worth about $548,000. Family Firm Inc. purchased a new position in shares of Lowe's Companies during the 4th quarter worth about $212,000. Bedel Financial Consulting Inc. purchased a new position in shares of Lowe's Companies during the 4th quarter worth about $478,000. Finally, California Public Employees Retirement System boosted its stake in shares of Lowe's Companies by 1.5% during the 4th quarter. California Public Employees Retirement System now owns 2,282,588 shares of the home improvement retailer’s stock worth $212,144,000 after purchasing an additional 34,622 shares during the period. 72.41% of the stock is owned by hedge funds and other institutional investors.
Shares of Lowe's Companies, Inc. (NYSE LOW) opened at $96.93 on Thursday. Lowe's Companies, Inc. has a twelve month low of $70.76 and a twelve month high of $108.98. 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 cap of $79,706.80, a PE ratio of 23.24, a PEG ratio of 0.90 and a beta of 1.19.
Lowe's Companies declared that its board has approved a stock repurchase program on Friday, January 26th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the home improvement retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of research firms recently commented on LOW. Atlantic Securities cut shares of Lowe's Companies from an “overweight” rating to a “neutral” rating and set a $92.00 price target for the company. in a research note on Tuesday, November 28th. Credit Suisse Group set a $116.00 price objective on shares of Lowe's Companies and gave the company a “buy” rating in a research report on Tuesday, January 16th. Piper Jaffray Companies reissued a “hold” rating and issued a $82.00 price objective on shares of Lowe's Companies in a research report on Friday, November 24th. Stifel Nicolaus reissued a “buy” rating and issued a $103.00 price objective on shares of Lowe's Companies in a research report on Friday, December 22nd. Finally, Zelman & Associates cut shares of Lowe's Companies from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $96.35.
In related news, insider Nelson B. Peace sold 3,352 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $80.20, for a total transaction of $268,830.40. Following the completion of the transaction, the insider now owns 4,650 shares in the company, valued at approximately $372,930. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.
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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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