Intact Investment Management Inc. Sells 3,800 Shares of Lowe’s Companies, Inc. $LOW

Intact Investment Management Inc. lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 44.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,700 shares of the home improvement retailer’s stock after selling 3,800 shares during the period. Intact Investment Management Inc.’s holdings in Lowe’s Companies were worth $1,181,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in LOW. Brighton Jones LLC grew its position in Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after acquiring an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Lowe’s Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after purchasing an additional 259 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Lowe’s Companies by 22.3% in the second quarter. Sivia Capital Partners LLC now owns 1,534 shares of the home improvement retailer’s stock worth $340,000 after purchasing an additional 280 shares during the last quarter. Perigon Wealth Management LLC increased its stake in shares of Lowe’s Companies by 8.2% in the second quarter. Perigon Wealth Management LLC now owns 4,012 shares of the home improvement retailer’s stock worth $890,000 after buying an additional 303 shares during the period. Finally, Patton Fund Management Inc. bought a new stake in Lowe’s Companies during the 2nd quarter valued at $221,000. 74.06% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the transaction, the chief executive officer directly owned 231,043 shares in the company, valued at $60,341,500.31. This trade represents a 7.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LOW shares. Jefferies Financial Group raised their price target on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Wall Street Zen raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. DA Davidson lowered their price target on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Wolfe Research dropped their price objective on Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, November 24th. Finally, Gordon Haskett raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a research note on Tuesday, January 13th. Nineteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.65.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $277.81 on Tuesday. The stock’s 50 day simple moving average is $250.33 and its two-hundred day simple moving average is $246.71. The stock has a market cap of $155.84 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 4.59 and a beta of 0.96. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $281.36.

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

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Lowe’s Companies’s dividend payout ratio is currently 39.80%.

Lowe’s Companies 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.