Cidel Asset Management Inc. Buys 63,746 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Cidel Asset Management Inc. raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1,611.4% in the 4th quarter, HoldingsChannel reports. The firm owned 67,702 shares of the home improvement retailer’s stock after acquiring an additional 63,746 shares during the quarter. Cidel Asset Management Inc.’s holdings in Lowe’s Companies were worth $16,709,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LOW. Lecap Asset Management Ltd. acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $1,531,000. Golden State Wealth Management LLC bought a new position in Lowe’s Companies in the fourth quarter worth approximately $568,000. Global X Japan Co. Ltd. grew its stake in Lowe’s Companies by 5.3% in the fourth quarter. Global X Japan Co. Ltd. now owns 1,917 shares of the home improvement retailer’s stock valued at $473,000 after acquiring an additional 96 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Lowe’s Companies by 6.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 71,198 shares of the home improvement retailer’s stock valued at $17,572,000 after acquiring an additional 4,599 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in shares of Lowe’s Companies by 24,531.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after acquiring an additional 1,223,116 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on LOW. DA Davidson lifted their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. TD Cowen lifted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada upped their target price on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Stifel Nicolaus increased their price objective on 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 analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $280.85.

Insider Buying and Selling

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

Lowe’s Companies Trading Down 1.9 %

Shares of NYSE LOW opened at $252.17 on Friday. The firm has a market cap of $142.39 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 2.18 and a beta of 1.11. The stock has a fifty day simple moving average of $257.65 and a two-hundred day simple moving average of $257.70. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.82%. The ex-dividend date was Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Lowe’s Companies 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.