Lowe's Companies, Inc. (LOW) Position Lowered by Putnam FL Investment Management Co.
Putnam FL Investment Management Co. lessened its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,978 shares of the home improvement retailer’s stock after selling 10,175 shares during the quarter. Lowe's Companies makes up 1.7% of Putnam FL Investment Management Co.’s portfolio, making the stock its 14th biggest position. Putnam FL Investment Management Co.’s holdings in Lowe's Companies were worth $18,307,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in LOW. Summit Global Investments purchased a new stake in Lowe's Companies in the second quarter worth $1,421,000. Glenview State Bank Trust DEPT. purchased a new stake in Lowe's Companies in the fourth quarter worth $204,000. Ffcm LLC grew its stake in Lowe's Companies by 6.4% in the second quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock worth $2,395,000 after purchasing an additional 1,853 shares during the period. Burney Co. grew its stake in Lowe's Companies by 3.9% in the second quarter. Burney Co. now owns 145,724 shares of the home improvement retailer’s stock worth $11,162,000 after purchasing an additional 5,453 shares during the period. Finally, PGGM Investments grew its stake in Lowe's Companies by 45.8% in the third quarter. PGGM Investments now owns 986,226 shares of the home improvement retailer’s stock worth $78,839,000 after purchasing an additional 309,870 shares during the period. Institutional investors own 72.41% of the company’s stock.
Shares of Lowe's Companies, Inc. (NYSE:LOW) opened at $97.78 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.12 and a debt-to-equity ratio of 2.71. Lowe's Companies, Inc. has a 12-month low of $70.76 and a 12-month high of $108.98. The company has a market capitalization of $80,627.83, a price-to-earnings ratio of 21.55, a P/E/G ratio of 0.91 and a beta of 1.19.
Lowe's Companies announced that its board has approved a stock repurchase plan on Friday, January 26th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Shares buyback plans are usually 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 the stock in a transaction 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 directly owns 4,650 shares of the company’s stock, valued at $372,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company’s stock.
Several equities research analysts recently weighed in on the company. Jefferies Group raised Lowe's Companies from a “hold” rating to a “buy” rating and upped their price target for the stock from $81.00 to $129.00 in a research note on Monday, February 5th. Zacks Investment Research raised Lowe's Companies from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research note on Friday, February 2nd. Telsey Advisory Group raised Lowe's Companies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $83.00 to $124.00 in a research note on Thursday, January 25th. Stifel Nicolaus reissued a “buy” rating and issued a $124.00 target price (up from $103.00) on shares of Lowe's Companies in a research note on Wednesday, January 24th. Finally, Morgan Stanley set a $115.00 target price on Lowe's Companies and gave the stock a “buy” rating in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $96.35.
Lowe's Companies Company 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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