Addenda Capital Inc. Has $8.39 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Addenda Capital Inc. lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,954 shares of the home improvement retailer’s stock after selling 264 shares during the quarter. Addenda Capital Inc.’s holdings in Lowe’s Companies were worth $8,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Klingenstein Fields & Co. LP increased its stake in shares of Lowe’s Companies by 1.0% in the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock valued at $1,012,000 after buying an additional 39 shares during the period. Gen Wealth Partners Inc boosted its holdings in Lowe’s Companies by 1.9% in the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock valued at $534,000 after acquiring an additional 40 shares during the last quarter. Cordatus Wealth Management LLC boosted its holdings in Lowe’s Companies by 0.3% in the fourth quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock valued at $3,705,000 after acquiring an additional 41 shares during the last quarter. O Brien Greene & Co. Inc boosted its holdings in Lowe’s Companies by 1.5% in the fourth quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock valued at $715,000 after acquiring an additional 42 shares during the last quarter. Finally, FFT Wealth Management LLC boosted its holdings in Lowe’s Companies by 3.1% in the fourth quarter. FFT Wealth Management LLC now owns 1,377 shares of the home improvement retailer’s stock valued at $340,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.3%

Shares of LOW opened at $225.57 on Friday. Lowe’s Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The business’s fifty day moving average is $224.20 and its 200 day moving average is $242.95. The stock has a market cap of $126.25 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.96 and a beta of 1.00.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. During the same period last year, the business earned $3.06 EPS. Lowe’s Companies’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a $1.20 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.13%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.77%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Sanford C. Bernstein set a $266.00 target price on Lowe’s Companies and gave the company an “outperform” rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their target price on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company reduced their target price on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 21st. Finally, Mizuho set a $280.00 target price on Lowe’s Companies and gave the company an “outperform” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $271.12.

About Lowe’s Companies

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.