Canoe Financial LP Sells 4,800 Shares of Lowe’s Companies, Inc. $LOW

Canoe Financial LP lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,224 shares of the home improvement retailer’s stock after selling 4,800 shares during the period. Canoe Financial LP’s holdings in Lowe’s Companies were worth $21,669,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOW. Pacer Advisors Inc. grew its position in Lowe’s Companies by 20.8% during the third quarter. Pacer Advisors Inc. now owns 55,756 shares of the home improvement retailer’s stock worth $14,012,000 after buying an additional 9,595 shares in the last quarter. BSW Wealth Partners raised its holdings in Lowe’s Companies by 50.6% in the 3rd quarter. BSW Wealth Partners now owns 3,890 shares of the home improvement retailer’s stock valued at $978,000 after acquiring an additional 1,307 shares in the last quarter. Johnson & White Wealth Management LLC bought a new stake in shares of Lowe’s Companies during the 3rd quarter valued at $214,000. Whitener Capital Management Inc. grew its holdings in shares of Lowe’s Companies by 10.5% during the 3rd quarter. Whitener Capital Management Inc. now owns 19,567 shares of the home improvement retailer’s stock worth $4,917,000 after purchasing an additional 1,853 shares in the last quarter. Finally, Iams Wealth Management LLC increased its position in shares of Lowe’s Companies by 13.0% in the third quarter. Iams Wealth Management LLC now owns 3,127 shares of the home improvement retailer’s stock worth $786,000 after purchasing an additional 360 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LOW shares. Sanford C. Bernstein upped their price objective on shares of Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. JPMorgan Chase & Co. boosted their target price on shares of Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Evercore ISI reaffirmed a “positive” rating on shares of Lowe’s Companies in a report on Thursday, November 20th. Jefferies Financial Group lifted their price objective on shares of Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Finally, Bank of America lowered their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $276.80.

Lowe’s Companies Price Performance

LOW stock opened at $242.75 on Friday. The stock has a market cap of $136.17 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 4.03 and a beta of 0.96. The company has a 50 day simple moving average of $239.88 and a 200 day simple moving average of $240.23. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $274.98.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The firm had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.89 earnings per share. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.