Cambridge Financial Group Inc. Buys New Position in Lowe’s Companies, Inc. (NYSE:LOW)

Cambridge Financial Group Inc. purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 31,525 shares of the home improvement retailer’s stock, valued at approximately $7,780,000. Lowe’s Companies makes up about 3.2% of Cambridge Financial Group Inc.’s holdings, making the stock its 16th biggest position.

A number of other institutional investors also recently made changes to their positions in the stock. United Bank grew its holdings in shares of Lowe’s Companies by 1.4% during the third quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock valued at $2,735,000 after buying an additional 137 shares in the last quarter. Vinva Investment Management Ltd boosted its stake in Lowe’s Companies by 2.3% during the third quarter. Vinva Investment Management Ltd now owns 6,059 shares of the home improvement retailer’s stock worth $1,619,000 after buying an additional 134 shares in the last quarter. Isthmus Partners LLC grew its stake in shares of Lowe’s Companies by 0.8% in the 3rd quarter. Isthmus Partners LLC now owns 47,932 shares of the home improvement retailer’s stock valued at $12,982,000 after purchasing an additional 382 shares during the period. Providence Wealth Advisors LLC raised its stake in Lowe’s Companies by 1.9% during the third quarter. Providence Wealth Advisors LLC now owns 7,355 shares of the home improvement retailer’s stock worth $1,994,000 after acquiring an additional 135 shares in the last quarter. Finally, Icon Wealth Advisors LLC grew its stake in Lowe’s Companies by 8.6% during the third quarter. Icon Wealth Advisors LLC now owns 4,567 shares of the home improvement retailer’s stock worth $1,237,000 after buying an additional 361 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Down 1.7 %

LOW opened at $228.20 on Friday. The company has a market capitalization of $127.73 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.96 and a beta of 1.12. The business’s fifty day simple moving average is $245.57 and its 200-day simple moving average is $257.24. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.02%. Lowe’s Companies’s payout ratio is currently 37.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Evercore ISI increased their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Bank of America cut their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a report on Wednesday, February 26th. Finally, Truist Financial dropped their target price on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $279.71.

About Lowe’s Companies

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