Cardinal Capital Management Sells 261 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Cardinal Capital Management decreased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 43,871 shares of the home improvement retailer’s stock after selling 261 shares during the quarter. Lowe’s Companies accounts for 2.0% of Cardinal Capital Management’s holdings, making the stock its 8th largest position. Cardinal Capital Management’s holdings in Lowe’s Companies were worth $9,902,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. grew its position in Lowe’s Companies by 6.6% in the first quarter. Valley National Advisers Inc. now owns 9,769 shares of the home improvement retailer’s stock worth $2,062,000 after buying an additional 606 shares during the last quarter. Rainsberger Wealth Advisors Inc. grew its position in Lowe’s Companies by 9.2% in the first quarter. Rainsberger Wealth Advisors Inc. now owns 8,993 shares of the home improvement retailer’s stock worth $1,798,000 after buying an additional 760 shares during the last quarter. First Manhattan CO. LLC. grew its position in Lowe’s Companies by 5.9% in the first quarter. First Manhattan CO. LLC. now owns 1,223,493 shares of the home improvement retailer’s stock worth $244,662,000 after buying an additional 68,237 shares during the last quarter. Transform Wealth LLC grew its position in Lowe’s Companies by 0.3% in the first quarter. Transform Wealth LLC now owns 16,932 shares of the home improvement retailer’s stock worth $3,386,000 after buying an additional 51 shares during the last quarter. Finally, CoreCap Advisors LLC grew its position in Lowe’s Companies by 5.0% in the fourth quarter. CoreCap Advisors LLC now owns 8,152 shares of the home improvement retailer’s stock worth $1,624,000 after buying an additional 389 shares during the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. DA Davidson raised their price objective on shares of Lowe’s Companies from $228.00 to $237.00 in a research note on Wednesday, May 24th. UBS Group raised their price objective on shares of Lowe’s Companies from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. TD Cowen raised their price objective on shares of Lowe’s Companies from $225.00 to $230.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 23rd. Robert W. Baird raised their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 22nd. Finally, Loop Capital raised their price objective on shares of Lowe’s Companies from $215.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $237.48.

Insider Transactions at Lowe’s Companies

In other news, EVP Janice Dupre sold 5,380 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the transaction, the executive vice president now owns 24,216 shares in the company, valued at approximately $5,600,676.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the sale, the executive vice president now owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Janice Dupre sold 5,380 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the sale, the executive vice president now directly owns 24,216 shares in the company, valued at approximately $5,600,676.48. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW opened at $217.72 on Tuesday. The company has a market capitalization of $125.65 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.43 and a beta of 1.09. Lowe’s Companies, Inc. has a one year low of $176.50 and a one year high of $237.21. The company’s fifty day moving average price is $227.93 and its 200 day moving average price is $213.68.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 EPS for the quarter, topping the consensus estimate of $4.49 by $0.07. Lowe’s Companies had a net margin of 6.48% and a negative return on equity of 58.56%. The firm had revenue of $24.96 billion for the quarter, compared to the consensus estimate of $24.97 billion. During the same quarter last year, the firm posted $4.67 EPS. The business’s quarterly revenue was down 9.2% on a year-over-year basis. Analysts anticipate that Lowe’s Companies, Inc. will post 13.45 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, October 24th. This represents a $4.40 annualized dividend and a dividend yield of 2.02%. Lowe’s Companies’s payout ratio is 43.31%.

Lowe’s Companies Company 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.