Wedge Capital Management L L P NC Grows Stake in Lowe's Companies, Inc. (LOW)

Wedge Capital Management L L P NC increased its position in shares of Lowe's Companies, Inc. (NYSE:LOW) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 194,049 shares of the home improvement retailer’s stock after buying an additional 3,789 shares during the period. Wedge Capital Management L L P NC’s holdings in Lowe's Companies were worth $18,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Lowe's Companies by 1.4% during the second quarter. Vanguard Group Inc. now owns 64,769,014 shares of the home improvement retailer’s stock valued at $5,021,542,000 after purchasing an additional 897,911 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Lowe's Companies by 40.3% during the third 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 increased its position in shares of Lowe's Companies by 62.6% during the second quarter. FMR LLC now owns 9,694,439 shares of the home improvement retailer’s stock valued at $751,610,000 after purchasing an additional 3,732,153 shares during the period. Ameriprise Financial Inc. increased its position in shares of Lowe's Companies by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 9,281,474 shares of the home improvement retailer’s stock valued at $719,560,000 after purchasing an additional 64,780 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Lowe's Companies by 2.8% during the third quarter. Bank of New York Mellon Corp now owns 8,332,702 shares of the home improvement retailer’s stock valued at $666,117,000 after purchasing an additional 229,746 shares during the period. Institutional investors and hedge funds own 72.54% of the company’s stock.

Lowe's Companies, Inc. (LOW) opened at $101.50 on Monday. 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 $84,220.70, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. Lowe's Companies, Inc. has a one year low of $70.76 and a one year high of $108.98.

Lowe's Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. The company had revenue of $16.77 billion for the quarter, compared to analyst estimates of $16.59 billion. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. sell-side analysts expect that Lowe's Companies, Inc. will post 4.52 EPS for the current year.

The firm 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 $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Tuesday, January 23rd. Lowe's Companies’s dividend payout ratio is currently 39.33%.

Lowe's Companies declared that its board has approved a share repurchase program 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 buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

LOW has been the topic of a number of research reports. Robert W. Baird restated a “buy” rating and set a $92.00 price objective (up from $87.00) on shares of Lowe's Companies in a research report on Wednesday, November 22nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $84.00 price target on shares of Lowe's Companies in a research note on Tuesday, November 7th. Stifel Nicolaus boosted their price target on Lowe's Companies from $87.00 to $93.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. Zacks Investment Research raised Lowe's Companies from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Wednesday, November 1st. Finally, UBS Group boosted their price target on Lowe's Companies from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. Lowe's Companies presently has an average rating of “Buy” and an average price target of $94.49.

In other Lowe's Companies news, insider Nelson B. Peace sold 3,352 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.20, for a total value of $268,830.40. Following the transaction, the insider now owns 4,650 shares of the company’s stock, valued at $372,930. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by 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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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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