Canoe Financial LP Sells 496,512 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Canoe Financial LP cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 87.3% during the 4th quarter, HoldingsChannel reports. The firm owned 72,524 shares of the home improvement retailer’s stock after selling 496,512 shares during the period. Canoe Financial LP’s holdings in Lowe’s Companies were worth $17,899,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC increased its holdings in Lowe’s Companies by 3.1% in the 2nd quarter. Virtu Financial LLC now owns 3,296 shares of the home improvement retailer’s stock worth $727,000 after purchasing an additional 99 shares in the last quarter. Intech Investment Management LLC raised its holdings in Lowe’s Companies by 1.7% in the 2nd quarter. Intech Investment Management LLC now owns 17,829 shares of the home improvement retailer’s stock valued at $3,931,000 after buying an additional 298 shares during the last quarter. Brighton Jones LLC boosted its position in Lowe’s Companies by 1.5% during the 2nd quarter. Brighton Jones LLC now owns 19,503 shares of the home improvement retailer’s stock worth $4,300,000 after buying an additional 279 shares during the period. Trust Investment Advisors grew its holdings in Lowe’s Companies by 1.2% during the 2nd quarter. Trust Investment Advisors now owns 4,422 shares of the home improvement retailer’s stock worth $975,000 after acquiring an additional 54 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in Lowe’s Companies by 6.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 64,690 shares of the home improvement retailer’s stock valued at $14,262,000 after acquiring an additional 3,769 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LOW has been the subject of several analyst reports. Bank of America raised their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday. Melius Research began coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. Mizuho upped their price objective on shares of Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, Stifel Nicolaus lifted their target price on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Trading Up 1.0 %

NYSE LOW opened at $261.39 on Friday. The business has a fifty day simple moving average of $260.29 and a 200 day simple moving average of $253.98. Lowe’s Companies, Inc. has a 12 month low of $209.55 and a 12 month high of $287.01. The firm has a market capitalization of $147.59 billion, a P/E ratio of 21.80, a PEG ratio of 2.08 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is currently 38.37%.

Insider Buying and Selling

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the sale, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

About Lowe’s Companies

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.