Intact Investment Management Inc. Boosts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Intact Investment Management Inc. raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 9.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,900 shares of the home improvement retailer’s stock after acquiring an additional 3,000 shares during the period. Intact Investment Management Inc.’s holdings in Lowe’s Companies were worth $7,990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Private Wealth Partners LLC grew its position in Lowe’s Companies by 1.1% during the fourth quarter. Private Wealth Partners LLC now owns 11,198 shares of the home improvement retailer’s stock worth $2,492,000 after buying an additional 120 shares in the last quarter. Meixler Investment Management Ltd. grew its position in Lowe’s Companies by 194.5% during the fourth quarter. Meixler Investment Management Ltd. now owns 7,407 shares of the home improvement retailer’s stock worth $1,648,000 after buying an additional 4,892 shares in the last quarter. Valmark Advisers Inc. grew its position in Lowe’s Companies by 6.9% during the fourth quarter. Valmark Advisers Inc. now owns 11,065 shares of the home improvement retailer’s stock worth $2,463,000 after buying an additional 717 shares in the last quarter. Addison Advisors LLC lifted its stake in Lowe’s Companies by 169.3% during the fourth quarter. Addison Advisors LLC now owns 2,014 shares of the home improvement retailer’s stock worth $448,000 after purchasing an additional 1,266 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its stake in Lowe’s Companies by 18.7% during the fourth quarter. Citizens Financial Group Inc. RI now owns 12,276 shares of the home improvement retailer’s stock worth $2,732,000 after purchasing an additional 1,937 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

NYSE:LOW traded down $0.09 during mid-day trading on Friday, reaching $229.87. 2,001,196 shares of the company’s stock traded hands, compared to its average volume of 2,110,073. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The company has a 50 day moving average price of $239.98 and a 200-day moving average price of $219.70. The firm has a market capitalization of $131.53 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 1.70 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. During the same quarter in the prior year, the business earned $2.28 EPS. The business’s revenue for the quarter was down 17.1% on a year-over-year basis. As a group, analysts forecast that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.91%. Lowe’s Companies’s dividend payout ratio (DPR) is 33.43%.

Analyst Ratings Changes

Several equities research analysts have issued reports on LOW shares. Oppenheimer reaffirmed a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research note on Monday, March 4th. Wedbush lifted their price target on Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Royal Bank of Canada lifted their price target on Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. Robert W. Baird raised Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price target for the company in a research note on Wednesday, February 14th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Fifteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Hold” and an average price target of $252.52.

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.