Cambridge Financial Group Inc. Makes New $7.78 Million Investment in Lowe's Companies, Inc. (NYSE:LOW)

Cambridge Financial Group Inc. bought a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 31,525 shares of the home improvement retailer's stock, valued at approximately $7,780,000. Lowe's Companies accounts for approximately 3.2% of Cambridge Financial Group Inc.'s investment portfolio, making the stock its 16th biggest holding.

Several other hedge funds have also added to or reduced their stakes in LOW. Intrust Bank NA raised its position 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 purchasing an additional 130 shares during the last quarter. Allstate Corp purchased a new stake in shares of Lowe's Companies in the 4th quarter worth about $4,147,000. DnB Asset Management AS increased its position in shares of 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 valued at $25,416,000 after buying an additional 4,195 shares during the period. Level Four Advisory Services LLC raised its position in shares of Lowe's Companies by 0.3% in the 4th quarter. Level Four Advisory Services LLC now owns 31,514 shares of the home improvement retailer's stock worth $7,778,000 after acquiring an additional 102 shares in the last quarter. Finally, Vertex Planning Partners LLC boosted its position in shares of Lowe's Companies by 10.4% during the fourth 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 in the last quarter. 74.06% of the stock is owned by institutional investors.

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Lowe's Companies Trading Up 2.2 %

Shares of NYSE:LOW traded up $4.96 during midday trading on Monday, reaching $233.38. 3,464,691 shares of the company were exchanged, compared to its average volume of 2,422,420. The stock has a market cap of $130.62 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The business's fifty day moving average is $245.57 and its two-hundred day moving average is $257.38. Lowe's Companies, Inc. has a one year low of $211.80 and a one year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.10. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. As a group, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio (DPR) is presently 37.67%.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent research reports. Sanford C. Bernstein upped their target price on shares of Lowe's Companies from $301.00 to $304.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Stifel Nicolaus upped their price objective on shares of Lowe's Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th. Royal Bank of Canada lowered their target price on shares of 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. Bank of America cut their price target 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. Finally, Piper Sandler lowered their price objective on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $279.71.

Lowe's Companies Profile

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.