Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 4.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 179,657 shares of the home improvement retailer’s stock after selling 8,676 shares during the quarter. Cannell & Spears LLC’s holdings in Lowe’s Companies were worth $44,339,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LOW. Legacy Investment Solutions LLC purchased a new stake in shares of Lowe’s Companies during the 3rd quarter worth $27,000. IFS Advisors LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $25,000. Marshall Investment Management LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $31,000. Winch Advisory Services LLC boosted its holdings in Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new position in Lowe’s Companies during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Truist Financial reduced their price objective on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Bank of America lowered their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, March 26th. Finally, BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $279.71.

Lowe’s Companies Stock Performance

LOW opened at $228.20 on Monday. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The company’s 50 day simple moving average is $245.57 and its 200 day simple moving average is $257.38. The stock has a market capitalization of $127.73 billion, a PE ratio of 19.03, a P/E/G ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.02%. Lowe’s Companies’s dividend payout ratio is presently 37.67%.

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.