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

Cambridge Financial Group Inc. acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, Holdings Channel reports. The fund acquired 31,525 shares of the home improvement retailer’s stock, valued at approximately $7,780,000. Lowe’s Companies comprises about 3.2% of Cambridge Financial Group Inc.’s holdings, making the stock its 16th largest holding.

Other hedge funds have also modified their holdings of the company. Intrust Bank NA boosted its holdings in Lowe’s Companies by 1.5% during the 4th quarter. Intrust Bank NA now owns 8,996 shares of the home improvement retailer’s stock valued at $2,220,000 after acquiring an additional 130 shares during the period. Allstate Corp purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $4,147,000. DnB Asset Management AS raised its holdings in Lowe’s Companies by 4.2% during the fourth quarter. DnB Asset Management AS now owns 102,983 shares of the home improvement retailer’s stock worth $25,416,000 after purchasing an additional 4,195 shares in the last quarter. Level Four Advisory Services LLC lifted its position in Lowe’s Companies by 0.3% in the fourth quarter. Level Four Advisory Services LLC now owns 31,514 shares of the home improvement retailer’s stock valued at $7,778,000 after acquiring an additional 102 shares during the last quarter. Finally, Vertex Planning Partners LLC lifted its holdings in shares of Lowe’s Companies by 10.4% in the 4th quarter. Vertex Planning Partners LLC now owns 1,538 shares of the home improvement retailer’s stock valued at $380,000 after purchasing an additional 145 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of LOW opened at $228.20 on Friday. The company has a market capitalization of $127.73 billion, a P/E ratio of 19.03, a PEG ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The business’s 50 day simple moving average is $245.57 and its 200-day simple moving average is $257.24.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.02%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 37.67%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday. Piper Sandler dropped their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Royal Bank of Canada cut their price target on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Finally, Truist Financial decreased 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 research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.