Intact Investment Management Inc. Lowers Holdings in Lowe’s Companies, Inc. $LOW

Intact Investment Management Inc. trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 44.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,700 shares of the home improvement retailer’s stock after selling 3,800 shares during the quarter. Intact Investment Management Inc.’s holdings in Lowe’s Companies were worth $1,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LOW. Howard Hughes Medical Institute bought a new stake in Lowe’s Companies during the 2nd quarter valued at about $27,000. Solstein Capital LLC lifted its stake in shares of Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after buying an additional 113 shares in the last quarter. Traub Capital Management LLC purchased a new stake in shares of Lowe’s Companies during the second quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC increased its position in shares of Lowe’s Companies by 128.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 76 shares in the last quarter. Finally, Olistico Wealth LLC bought a new stake in shares of Lowe’s Companies during the second quarter valued at approximately $33,000. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LOW has been the topic of several recent analyst reports. DA Davidson cut their target price on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, November 20th. Wells Fargo & Company lowered their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Telsey Advisory Group reduced their price objective on Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Bank of America decreased their target price on 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. Finally, Evercore ISI reaffirmed a “positive” rating on shares of Lowe’s Companies in a report on Thursday, November 20th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $283.65.

Insider Buying and Selling at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction 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 approximately $60,341,500.31. The trade was a 7.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by insiders.

Lowe’s Companies Trading Up 0.4%

LOW opened at $277.81 on Tuesday. The firm’s 50 day simple moving average is $250.33 and its two-hundred day simple moving average is $246.71. The company has a market capitalization of $155.84 billion, a PE ratio of 23.04, a PEG ratio of 4.59 and a beta of 0.96. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $281.36.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 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 period in the prior year, the business posted $2.89 EPS. Lowe’s Companies’s revenue was up 3.2% on a year-over-year basis. Equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently disclosed 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 of this dividend is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Lowe’s Companies’s dividend payout ratio (DPR) is 39.80%.

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.