FDx Advisors Inc. grew its holdings in Lowe's Companies, Inc. (NYSE:LOW) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 120,844 shares of the home improvement retailer’s stock after buying an additional 2,901 shares during the quarter. FDx Advisors Inc.’s holdings in Lowe's Companies were worth $11,231,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Summit Global Investments acquired a new stake in Lowe's Companies in the second quarter worth about $1,421,000. Glenview State Bank Trust DEPT. acquired a new stake in Lowe's Companies in the fourth quarter worth about $204,000. PGGM Investments increased its position 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. FIL Ltd increased its position in Lowe's Companies by 8.6% in the second quarter. FIL Ltd now owns 1,972,527 shares of the home improvement retailer’s stock worth $152,931,000 after purchasing an additional 155,662 shares during the period. Finally, Cipher Capital LP increased its position in Lowe's Companies by 2.8% in the third quarter. Cipher Capital LP now owns 85,803 shares of the home improvement retailer’s stock worth $6,859,000 after purchasing an additional 2,313 shares during the period. Institutional investors own 73.78% of the company’s stock.
A number of brokerages have issued reports on LOW. Atlantic Securities cut Lowe's Companies from an “overweight” rating to a “neutral” rating and set a $92.00 target price on the stock. in a report on Tuesday, November 28th. Credit Suisse Group set a $116.00 target price on Lowe's Companies and gave the stock a “buy” rating in a report on Tuesday, January 16th. Piper Jaffray Companies restated a “hold” rating and set a $82.00 target price on shares of Lowe's Companies in a report on Friday, November 24th. Stifel Nicolaus restated a “buy” rating and set a $103.00 target price on shares of Lowe's Companies in a report on Friday, December 22nd. Finally, Zelman & Associates cut Lowe's Companies from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating to the company. Lowe's Companies has an average rating of “Buy” and an average target price of $96.35.
Lowe's Companies announced that its board has approved a stock buyback plan on Friday, January 26th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
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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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