Vanguard Trims Lowe's Stake to 4.9% as of Dec 29, 2023

TL;DR

**Vanguard cut its Lowe's stake to 4.9%, watch for minor market reaction.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in Lowe's Companies Inc. As of December 29, 2023, Vanguard beneficially owned 75,762,024 shares of Lowe's common stock, representing 4.9% of the company. This filing indicates a slight decrease in Vanguard's reported stake from previous filings, which could signal a minor rebalancing of their portfolio, potentially affecting investor sentiment for Lowe's stock.

Why It Matters

This matters because Vanguard is a significant institutional investor, and changes in its holdings can influence market perception and potentially impact Lowe's stock price, especially for current or prospective shareholders.

Risk Assessment

Risk Level: low — The change in ownership is minor and from a passive investor, posing low risk to the company's operations or stock stability.

Analyst Insight

A smart investor would note Vanguard's slight reduction in Lowe's holdings but recognize it's a passive investment. This change alone isn't a strong buy/sell signal but warrants monitoring future institutional filings and Lowe's operational performance.

Key Numbers

• 75,762,024 — Shares Beneficially Owned (Represents the total number of Lowe's common stock shares Vanguard holds with shared voting power.)
• 4.9% — Percentage of Class (Indicates Vanguard's total ownership stake in Lowe's, showing a slight reduction from previous filings.)
• 0 — Sole Voting Power (Shows Vanguard holds no shares with sole voting power, emphasizing its passive investment strategy.)
• December 29, 2023 — Event Date (The specific date on which Vanguard's reported ownership percentage was calculated.)
• 11 — Amendment Number (Indicates this is the eleventh amendment to Vanguard's Schedule 13G filing for Lowe's, suggesting ongoing adjustments to its holdings.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Lowe's Companies Inc (company) — subject company whose securities are being reported
• 75,762,024 (dollar_amount) — number of shares beneficially owned by Vanguard
• 4.9% (dollar_amount) — percentage of Lowe's common stock owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A amendment

Forward-Looking Statements

• Vanguard will continue to be a significant, but passive, institutional holder of Lowe's stock. (The Vanguard Group) — high confidence, target: December 31, 2024
• The slight reduction in Vanguard's stake will have minimal impact on Lowe's stock price. (Lowe's Companies Inc) — medium confidence, target: March 31, 2024

FAQ

Filing Documents

• tv01368-lowescosinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021375.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Lowe's Cos Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 1000 Lowe's Boulevard Mooresville, NC 28117-8520

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 548661107

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR