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

Canoe Financial LP reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 5.3% in the 3rd quarter, HoldingsChannel reports. The fund 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.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Lowe’s Companies in the second quarter valued at $1,773,624,000. Tableaux LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter valued at about $282,884,000. Laurel Wealth Advisors LLC increased its stake in shares of Lowe’s Companies by 22,167.5% in the second quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock valued at $229,041,000 after buying an additional 1,027,683 shares during the period. Worldquant Millennium Advisors LLC increased its stake in shares of Lowe’s Companies by 243.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,116,945 shares of the home improvement retailer’s stock valued at $247,817,000 after buying an additional 791,526 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Lowe’s Companies by 26.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,358,118 shares of the home improvement retailer’s stock worth $523,196,000 after acquiring an additional 491,005 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.2%

NYSE:LOW opened at $242.75 on Friday. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $274.98. The company has a fifty day moving average of $239.88 and a 200-day moving average of $240.23. The firm has a market capitalization of $136.17 billion, a P/E ratio of 20.13, a P/E/G ratio of 4.03 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW) last issued 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. The business had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.89 earnings per share. On average, 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. Stockholders of record on Wednesday, January 21st will be paid a $1.20 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.80%.

Wall Street Analyst Weigh In

Several analysts recently commented on LOW shares. Stifel Nicolaus upped their target price on Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a report on Monday, December 1st. Telsey Advisory Group dropped their price target on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Truist Financial set a $269.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, December 17th. Wells Fargo & Company lowered their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Finally, Mizuho dropped their target price on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Seventeen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $276.80.

About Lowe’s Companies

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.