Addenda Capital Inc. Reduces Position in Lowe's Companies, Inc. (LOW)

Addenda Capital Inc. reduced its position in shares of Lowe's Companies, Inc. (NYSE:LOW) by 6.3% in the 4th quarter, Holdings Channel reports. The firm owned 37,650 shares of the home improvement retailer’s stock after selling 2,545 shares during the quarter. Addenda Capital Inc.’s holdings in Lowe's Companies were worth $3,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in LOW. Atlantic Trust LLC acquired a new stake in Lowe's Companies during the 2nd quarter worth approximately $105,000. State of Alaska Department of Revenue raised its holdings in Lowe's Companies by 8.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after acquiring an additional 110 shares in the last quarter. Motco raised its holdings in Lowe's Companies by 33.4% in the 2nd quarter. Motco now owns 1,725 shares of the home improvement retailer’s stock valued at $134,000 after acquiring an additional 432 shares in the last quarter. Horan Capital Advisors LLC. acquired a new position in Lowe's Companies in the 3rd quarter valued at $134,000. Finally, Bank of Nova Scotia Trust Co. acquired a new position in Lowe's Companies in the 3rd quarter valued at $148,000. 73.13% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have weighed in on LOW shares. Zacks Investment Research raised Lowe's Companies from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Lowe's Companies in a report on Monday, September 25th. Jefferies Group reaffirmed a “hold” rating and issued a $75.00 price objective on shares of Lowe's Companies in a report on Thursday, September 28th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Lowe's Companies in a report on Friday, September 29th. Finally, Gordon Haskett started coverage on Lowe's Companies in a report on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have issued a buy rating to the stock. Lowe's Companies currently has a consensus rating of “Buy” and an average target price of $89.59.

In related news, insider Nelson B. Peace sold 3,352 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.20, for a total transaction of $268,830.40. Following the sale, the insider now owns 4,650 shares in the company, valued at approximately $372,930. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

Lowe's Companies, Inc. (LOW) opened at $101.68 on Thursday. Lowe's Companies, Inc. has a 52 week low of $70.76 and a 52 week high of $105.60. The company has a quick ratio of 0.12, a current ratio of 1.02 and a debt-to-equity ratio of 2.71. The stock has a market capitalization of $84,370.00, a price-to-earnings ratio of 24.44, a PEG ratio of 1.51 and a beta of 1.14.

Lowe's Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.03. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The company had revenue of $16.77 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same quarter last year, the company posted $0.88 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. sell-side analysts expect that Lowe's Companies, Inc. will post 4.51 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be paid a $0.41 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a dividend yield of 1.61%. Lowe's Companies’s payout ratio is 39.42%.

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About Lowe's Companies

Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.

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

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