Cidel Asset Management Inc. Sells 7,274 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Cidel Asset Management Inc. trimmed its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 10.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,428 shares of the home improvement retailer's stock after selling 7,274 shares during the quarter. Cidel Asset Management Inc.'s holdings in Lowe's Companies were worth $14,094,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue boosted its position in Lowe's Companies by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock worth $29,223,000 after purchasing an additional 1,470 shares during the period. Aptus Capital Advisors LLC raised its holdings in Lowe's Companies by 14.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after acquiring an additional 13,092 shares during the period. World Investment Advisors raised its holdings in Lowe's Companies by 11.0% in the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after acquiring an additional 2,615 shares during the period. Great Lakes Advisors LLC raised its holdings in Lowe's Companies by 1.5% in the 4th quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer's stock valued at $116,696,000 after acquiring an additional 7,187 shares during the period. Finally, Northern Trust Corp raised its holdings in Lowe's Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after acquiring an additional 993,833 shares during the period. 74.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LOW has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Robert W. Baird lowered their price target on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Mizuho restated an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a research report on Friday, June 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

Insider Transactions at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the transaction, the executive vice president owned 31,898 shares in the company, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by insiders.

Lowe's Companies Stock Performance

Shares of NYSE:LOW opened at $221.82 on Tuesday. The firm has a market cap of $124.32 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92. The firm's fifty day moving average is $223.36 and its 200-day moving average is $235.56. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. The company had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. Lowe's Companies's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.06 earnings per share. Sell-side analysts forecast 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 positive change from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.16%. Lowe's Companies's payout ratio is presently 38.11%.

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.

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