Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Cannon Advisors Inc.

Cannon Advisors Inc. cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 10.0% in the 4th quarter, HoldingsChannel reports. The fund owned 8,078 shares of the home improvement retailer’s stock after selling 896 shares during the period. Lowe’s Companies makes up 1.7% of Cannon Advisors Inc.’s investment portfolio, making the stock its 21st largest position. Cannon Advisors Inc.’s holdings in Lowe’s Companies were worth $1,994,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in LOW. United Bank increased its stake in shares of Lowe’s Companies by 1.4% during the 3rd quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock valued at $2,735,000 after acquiring an additional 137 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Lowe’s Companies during the third quarter worth approximately $2,073,000. Erste Asset Management GmbH acquired a new position in shares of Lowe’s Companies in the 3rd quarter valued at $5,976,000. Bamco Inc. NY grew its stake in shares of Lowe’s Companies by 71.6% during the 3rd quarter. Bamco Inc. NY now owns 290,107 shares of the home improvement retailer’s stock valued at $78,575,000 after buying an additional 121,058 shares during the period. Finally, Benjamin Edwards Inc. increased its holdings in shares of Lowe’s Companies by 2,869.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 67,580 shares of the home improvement retailer’s stock worth $18,309,000 after buying an additional 65,304 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LOW shares. Wedbush reissued a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Piper Sandler decreased their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a report on Monday, March 24th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Finally, BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $279.71.

Lowe’s Companies Trading Up 2.2 %

Shares of Lowe’s Companies stock opened at $233.38 on Tuesday. The stock has a market capitalization of $130.62 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01. The business’s 50 day simple moving average is $245.01 and its 200-day simple moving average is $257.24.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. The business had revenue of $18.55 billion during 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%. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The firm also recently announced 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. This represents a $4.60 annualized dividend and a yield of 1.97%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is currently 37.67%.

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.