Who is the Largest Shareholder of Lowes?
Who is the largest shareholder of Lowes, which deals in home improvement and hardware chain in the United States and Canada.
Lowe’s is a home improvement retailer based in the United States. The company owns and operates a retail store chain in the United States and Canada.
Lowe’s and its affiliated businesses operated 2,197 home improvement and hardware stores in North America as of February 2021.
In 1921, Lucius Smith Lowe opened the first Lowe’s store in North Wilkesboro, North Carolina, as North Wilkesboro Hardware.
After Lowe’s death in 1940, his daughter Ruth Buchan inherited the business and sold it to her brother James Lowe.
James and his brother-in-law Carl Buchan ran the business together starting in 1943.
In anticipation of an increased need for construction materials after World War II, the store shifted its focus to strictly construction, hardware, and building materials.
In 1952, Buchan became the sole owner of Lowe’s, and the company was incorporated as Lowe’s North Wilkesboro Hardware. Lowe’s has since grown nationally, operating more than 2,355 locations in the United States, Canada, and Mexico.
The Vanguard Group, Inc. is the company’s largest shareholder, holding 9.3% of the stock.
BlackRock, Inc. is the second largest shareholder, owning 7.0% of the company’s common stock, and Capital Research and Management Company owns about 5.2%.
Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. We note that hedge funds don’t have a meaningful investment in Lowe’s.
Who is the Largest Shareholder?
The Vanguard Group, Inc. is a registered investment advisor based in Malvern, Pennsylvania, that manages approximately $7 trillion in global assets as of January 13, 2021.
It is the world’s largest mutual fund provider and the second-largest provider of exchange-traded funds (ETFs), trailing only BlackRock’s iShares.
In addition to mutual funds and ETFs, Vanguard offers brokerage services, educational account services, financial planning, asset management, and trust services.
Several Vanguard mutual funds are at the top of the list of US mutual funds in terms of assets under management.
Along with BlackRock and State Street, Vanguard is considered to be one of the Big Three index fund managers that dominate corporate America.
The Vanguard Group, Inc. provides investment management and advisory services.
The Company offers its services to equity investment and fixed income group, investment pooled vehicles, mutual funds, and separate account institutional clients. The Vanguard Group serves customers worldwide.
CSN Team.