State of Tennessee Treasury Department boosted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW) by 38.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 732,672 shares of the home improvement retailer’s stock after acquiring an additional 202,300 shares during the quarter. State of Tennessee Treasury Department’s holdings in Lowe's Companies were worth $68,096,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Lowe's Companies during the second quarter worth approximately $233,000. Stonehearth Capital Management LLC bought a new stake in shares of Lowe's Companies during the fourth quarter worth approximately $112,000. Atlantic Trust LLC bought a new stake in shares of Lowe's Companies during the second quarter worth approximately $105,000. IHT Wealth Management LLC boosted its holdings in shares of Lowe's Companies by 8.7% during the second quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock worth $154,000 after acquiring an additional 110 shares during the period. Finally, Cerebellum GP LLC bought a new stake in shares of Lowe's Companies during the fourth quarter worth approximately $129,000. 73.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lowe's Companies, Inc. (NYSE LOW) opened at $86.95 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.12 and a debt-to-equity ratio of 2.71. The company has a market cap of $80,909.95, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19. Lowe's Companies, Inc. has a 1 year low of $70.76 and a 1 year high of $108.98.
Lowe's Companies announced that its Board of Directors has approved a share buyback plan on Friday, January 26th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several brokerages recently issued reports on LOW. Stifel Nicolaus reiterated a “buy” rating and issued a $103.00 price target on shares of Lowe's Companies in a research note on Friday, December 22nd. Barclays upgraded Lowe's Companies from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 5th. Sanford C. Bernstein upgraded Lowe's Companies from an “underperform” rating to an “outperform” rating in a research note on Monday, January 22nd. Piper Jaffray Companies reiterated 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 reiterated 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 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 company. The company currently has an average rating of “Buy” and an average price target 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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