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

Ticker: LOW · Form: SC 13G/A · Filed: 2024-02-13T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investing, portfolio-rebalancing

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

What is the primary purpose of this SC 13G/A filing by The Vanguard Group?

The primary purpose of this SC 13G/A filing is for The Vanguard Group to amend its previous Schedule 13G filing, disclosing its updated beneficial ownership of Lowe's Companies Inc. common stock as of December 29, 2023, under Rule 13d-1(b).

How many shares of Lowe's common stock does The Vanguard Group beneficially own, and what percentage does this represent?

As of December 29, 2023, The Vanguard Group beneficially owns 75,762,024 shares of Lowe's Companies Inc. common stock, which represents 4.9% of the class of securities.

Does The Vanguard Group have sole voting power over any of its Lowe's shares?

No, The Vanguard Group reports having 0 shares with sole voting power. All 75,762,024 shares are reported under shared voting power.

What is the CUSIP number for Lowe's Companies Inc. common stock mentioned in the filing?

The CUSIP number for Lowe's Companies Inc. common stock is 548661107, as stated in the filing.

When was the event date that triggered this filing, and when was the filing submitted?

The date of the event which required this filing was December 29, 2023, and the filing itself was submitted on February 13, 2024.

From the Filing

0001104659-24-021375.txt : 20240213 0001104659-24-021375.hdr.sgml : 20240213 20240213170804 ACCESSION NUMBER: 0001104659-24-021375 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LOWES COMPANIES INC CENTRAL INDEX KEY: 0000060667 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-LUMBER & OTHER BUILDING MATERIALS DEALERS [5211] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 560578072 STATE OF INCORPORATION: NC FISCAL YEAR END: 0202 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-17892 FILM NUMBER: 24628825 BUSINESS ADDRESS: STREET 1: 1000 LOWES BLVD. CITY: MOORESVILLE STATE: NC ZIP: 28117 BUSINESS PHONE: 704-758-1000 MAIL ADDRESS: STREET 1: 1000 LOWES BLVD. CITY: MOORESVILLE STATE: NC ZIP: 28117 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv01368-lowescosinc.htm SCHEDULE 13G/A lowescosinc SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 11)* Name of issuer:  Lowe's Cos Inc Title of Class of Securities:  Common Stock CUSIP Number:  548661107 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on the following page(s))     13G CUSIP No.:  548661107 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 757,620 7.  SOLE DISPOSITIVE POWER 48,540,818 8.  SHARED DISPOSITIVE POWER 2,474,626 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 51,015,444 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.87% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: Lowe's Cos Inc Item 1(b) - Address of Issuer's Principal Executive Offices: 1000 Lowe's Boulevard Mooresville, NC 28117-8520 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355 Item 2(c) – Citizenship: Pennsylvania Item 2(d) - Title of Class of Securities: Common Stock Item 2(e) - CUSIP Number 548661107 Item 3 - Type of Filin