Cannell Peter B & Co. Inc. Grows Holdings in Lowe’s Companies, Inc. (LOW)

Cannell Peter B & Co. Inc. boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1,063.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 471,830 shares of the home improvement retailer’s stock after purchasing an additional 431,265 shares during the quarter. Lowe’s Companies comprises about 1.9% of Cannell Peter B & Co. Inc.’s portfolio, making the stock its 10th biggest position. Cannell Peter B & Co. Inc. owned 0.06% of Lowe’s Companies worth $54,176,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LOW. Tdam USA Inc. increased its holdings in shares of Lowe’s Companies by 6.9% in the 2nd quarter. Tdam USA Inc. now owns 7,850 shares of the home improvement retailer’s stock valued at $750,000 after acquiring an additional 504 shares during the period. Central Bank & Trust Co. increased its holdings in shares of Lowe’s Companies by 4.3% in the 2nd quarter. Central Bank & Trust Co. now owns 12,351 shares of the home improvement retailer’s stock valued at $1,180,000 after acquiring an additional 511 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Lowe’s Companies by 13.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,367 shares of the home improvement retailer’s stock valued at $417,000 after acquiring an additional 511 shares during the period. First Personal Financial Services increased its holdings in shares of Lowe’s Companies by 6.3% in the 3rd quarter. First Personal Financial Services now owns 8,884 shares of the home improvement retailer’s stock valued at $1,020,000 after acquiring an additional 523 shares during the period. Finally, Dillon & Associates Inc. increased its holdings in shares of Lowe’s Companies by 0.7% in the 2nd quarter. Dillon & Associates Inc. now owns 75,416 shares of the home improvement retailer’s stock valued at $7,240,000 after acquiring an additional 535 shares during the period. Institutional investors own 74.59% of the company’s stock.

In other Lowe’s Companies news, CFO Marshall A. Croom sold 15,735 shares of Lowe’s Companies stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total transaction of $1,803,388.35. Following the completion of the sale, the chief financial officer now owns 63,099 shares of the company’s stock, valued at approximately $7,231,776.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lisa W. Wardell purchased 273 shares of the stock in a transaction on Friday, August 24th. The shares were purchased at an average cost of $107.72 per share, with a total value of $29,407.56. Following the transaction, the director now owns 273 shares in the company, valued at approximately $29,407.56. The disclosure for this purchase can be found here. Insiders own 0.30% of the company’s stock.

Shares of LOW stock opened at $96.82 on Friday. Lowe’s Companies, Inc. has a 1-year low of $77.14 and a 1-year high of $117.70. The company has a current ratio of 1.06, a quick ratio of 0.25 and a debt-to-equity ratio of 2.58. The firm has a market cap of $81.31 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.05. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. The firm had revenue of $20.89 billion for the quarter, compared to the consensus estimate of $20.79 billion. During the same period in the previous year, the business earned $1.57 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that Lowe’s Companies, Inc. will post 5.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Shareholders of record on Wednesday, January 23rd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.98%. Lowe’s Companies’s dividend payout ratio is currently 43.74%.

LOW has been the topic of a number of analyst reports. SunTrust Banks upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, September 28th. Morgan Stanley lifted their price target on Lowe’s Companies from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 11th. KeyCorp reiterated an “overweight” rating and issued a $115.00 price target (up from $105.00) on shares of Lowe’s Companies in a report on Tuesday, July 24th. Robert W. Baird lifted their price target on Lowe’s Companies from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, August 22nd. Finally, Royal Bank of Canada lifted their price target on Lowe’s Companies to $118.00 and gave the company an “outperform” rating in a report on Thursday, August 23rd. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Lowe’s Companies has a consensus rating of “Buy” and a consensus price target of $112.41.

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Lowe’s Companies Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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