Addenda Capital Inc. Sells 5,940 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

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Addenda Capital Inc. lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 18.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,949 shares of the home improvement retailer’s stock after selling 5,940 shares during the period. Addenda Capital Inc.’s holdings in Lowe’s Companies were worth $2,619,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. Patten Group Inc. grew its position in shares of Lowe’s Companies by 7.3% in the second quarter. Patten Group Inc. now owns 8,475 shares of the home improvement retailer’s stock valued at $855,000 after purchasing an additional 577 shares during the last quarter. Peoples Financial Services CORP. grew its position in shares of Lowe’s Companies by 5.2% in the second quarter. Peoples Financial Services CORP. now owns 2,025 shares of the home improvement retailer’s stock valued at $204,000 after purchasing an additional 100 shares during the last quarter. Country Trust Bank grew its position in shares of Lowe’s Companies by 5.0% in the second quarter. Country Trust Bank now owns 259,592 shares of the home improvement retailer’s stock valued at $26,195,000 after purchasing an additional 12,298 shares during the last quarter. Nachman Norwood & Parrott Inc grew its position in shares of Lowe’s Companies by 0.6% in the second quarter. Nachman Norwood & Parrott Inc now owns 21,231 shares of the home improvement retailer’s stock valued at $2,142,000 after purchasing an additional 130 shares during the last quarter. Finally, Chicago Capital LLC grew its position in shares of Lowe’s Companies by 4.5% in the second quarter. Chicago Capital LLC now owns 276,216 shares of the home improvement retailer’s stock valued at $27,873,000 after purchasing an additional 11,927 shares during the last quarter. Institutional investors and hedge funds own 76.75% of the company’s stock.

In other Lowe’s Companies news, insider Marvin R. Ellison bought 10,000 shares of Lowe’s Companies stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $95.05 per share, with a total value of $950,500.00. Following the acquisition, the insider now owns 80,090 shares in the company, valued at approximately $7,612,554.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald Frieson bought 2,030 shares of Lowe’s Companies stock in a transaction on Wednesday, June 19th. The stock was acquired at an average cost of $98.69 per share, for a total transaction of $200,340.70. Following the acquisition, the executive vice president now owns 10,980 shares in the company, valued at approximately $1,083,616.20. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 12,280 shares of company stock worth $1,174,566. Company insiders own 0.07% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Robert W. Baird reissued an “outperform” rating and set a $127.00 price target (down previously from $133.00) on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Wells Fargo & Co reissued a “buy” rating on shares of Amphastar Pharmaceuticals in a research report on Friday, May 10th. Zacks Investment Research downgraded G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. SunTrust Banks increased their price target on Copart to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, Morgan Stanley set a $123.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Nine equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $112.88.

Shares of LOW stock traded up $0.05 during trading hours on Tuesday, reaching $102.60. The company’s stock had a trading volume of 4,604,297 shares, compared to its average volume of 4,745,132. The company’s 50 day moving average is $101.34. The firm has a market capitalization of $80.72 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.30 and a beta of 1.36. Lowe’s Companies, Inc. has a fifty-two week low of $84.75 and a fifty-two week high of $118.23. The company has a quick ratio of 0.24, a current ratio of 1.09 and a debt-to-equity ratio of 6.37.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.11). The business had revenue of $17.74 billion during the quarter, compared to analyst estimates of $17.65 billion. Lowe’s Companies had a net margin of 3.31% and a return on equity of 91.85%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 EPS. On average, research analysts expect that Lowe’s Companies, Inc. will post 5.59 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Tuesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.48. Lowe’s Companies’s dividend payout ratio (DPR) is currently 37.35%.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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