Cigna Investments Inc. New Has $2.16 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Cigna Investments Inc. New raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 23.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,108 shares of the home improvement retailer’s stock after buying an additional 4,745 shares during the period. Cigna Investments Inc. New’s holdings in Lowe’s Companies were worth $2,159,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in LOW. Norges Bank acquired a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $974,104,000. Bank of New York Mellon Corp lifted its position in shares of Lowe’s Companies by 26.9% during the first quarter. Bank of New York Mellon Corp now owns 7,782,725 shares of the home improvement retailer’s stock worth $669,704,000 after purchasing an additional 1,647,977 shares in the last quarter. M&G Investment Management Ltd. acquired a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $193,572,000. Franklin Resources Inc. lifted its position in shares of Lowe’s Companies by 118.9% during the fourth quarter. Franklin Resources Inc. now owns 2,605,624 shares of the home improvement retailer’s stock worth $312,048,000 after purchasing an additional 1,415,464 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Lowe’s Companies by 4.4% during the fourth quarter. FMR LLC now owns 22,726,275 shares of the home improvement retailer’s stock worth $2,721,698,000 after buying an additional 952,029 shares during the last quarter. Institutional investors own 76.15% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Credit Suisse Group dropped their price target on shares of Lowe’s Companies from $131.00 to $106.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Nomura boosted their price target on shares of Lowe’s Companies from $125.00 to $130.00 in a research note on Thursday. KeyCorp boosted their price target on shares of Lowe’s Companies from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday. Wedbush boosted their price target on shares of Lowe’s Companies from $105.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Nomura Instinet upped their target price on shares of Lowe’s Companies from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. Lowe’s Companies currently has a consensus rating of “Buy” and an average price target of $132.54.

LOW traded up $1.61 during trading hours on Friday, hitting $122.25. 6,063,492 shares of the company’s stock were exchanged, compared to its average volume of 6,207,421. Lowe’s Companies, Inc. has a 1-year low of $60.00 and a 1-year high of $126.73. The stock’s 50-day moving average is $101.42 and its two-hundred day moving average is $110.02. The stock has a market cap of $91.08 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.33 and a beta of 1.38. The company has a quick ratio of 0.14, a current ratio of 1.20 and a debt-to-equity ratio of 14.05.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, May 20th. The home improvement retailer reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.45. Lowe’s Companies had a net margin of 6.17% and a return on equity of 220.44%. The business had revenue of $19.68 billion during the quarter, compared to analysts’ expectations of $18.33 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 5.97 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, April 21st. Lowe’s Companies’s payout ratio is 38.46%.

In other Lowe’s Companies news, CEO Marvin R. Ellison bought 10,000 shares of Lowe’s Companies stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $103.86 per share, for a total transaction of $1,038,600.00. Following the completion of the acquisition, the chief executive officer now owns 90,090 shares of the company’s stock, valued at approximately $9,356,747.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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