Canoe Financial LP Lowers Stake in Lowe's Companies, Inc. (NYSE:LOW)

Canoe Financial LP lessened its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 87.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Crew Capital Management Ltd. grew its position in Lowe's Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer's stock valued at $1,049,000 after buying an additional 37 shares during the last quarter. Summit Place Financial Advisors LLC lifted its stake in shares of Lowe's Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer's stock worth $372,000 after acquiring an additional 37 shares during the period. Clean Yield Group boosted its holdings in shares of Lowe's Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer's stock valued at $433,000 after acquiring an additional 38 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its stake in shares of Lowe's Companies by 0.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer's stock worth $2,021,000 after acquiring an additional 40 shares during the period. Finally, Chapin Davis Inc. raised its holdings in Lowe's Companies by 1.3% during the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer's stock worth $835,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the transaction, the executive vice president now owns 16,703 shares of the company's stock, valued at $4,582,802.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on LOW. Royal Bank of Canada lifted their price objective on Lowe's Companies from $291.00 to $292.00 and gave the company a "sector perform" rating in a report on Thursday, December 12th. Mizuho lifted their price target on Lowe's Companies from $282.00 to $305.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Bank of America upped their price objective on Lowe's Companies from $275.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, October 11th. Wedbush reissued a "neutral" rating and issued a $250.00 target price on shares of Lowe's Companies in a report on Thursday, December 12th. Finally, TD Cowen upped their price target on shares of Lowe's Companies from $270.00 to $290.00 and gave the stock a "hold" rating in a research note on Monday, October 28th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $280.85.

Lowe's Companies Trading Up 1.0 %

Shares of Lowe's Companies stock traded up $2.61 during mid-day trading on Friday, hitting $261.39. 2,758,504 shares of the stock were exchanged, compared to its average volume of 1,989,226. The company has a 50-day simple moving average of $260.10 and a 200 day simple moving average of $254.60. The stock has a market capitalization of $147.59 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. Lowe's Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01.

Lowe's Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.76%. Lowe's Companies's payout ratio is currently 38.37%.

Lowe's Companies Company Profile

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.