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Cidel Asset Management Inc. lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 90.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,076 shares of the home improvement retailer’s stock after selling 56,024 shares during the quarter. Cidel Asset Management Inc.’s holdings in Lowe’s Companies were worth $1,527,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Lowe’s Companies by 0.7% in the second quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock worth $12,197,604,000 after acquiring an additional 366,977 shares in the last quarter. State Street Corp lifted its stake in shares of Lowe’s Companies by 0.8% in the 2nd quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock valued at $5,527,176,000 after purchasing an additional 207,826 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lowe’s Companies by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock worth $2,732,049,000 after purchasing an additional 42,190 shares during the period. Norges Bank bought a new position in shares of Lowe’s Companies during the 2nd quarter valued at approximately $1,773,624,000. Finally, Bank of New York Mellon Corp raised its holdings in Lowe’s Companies by 12.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,294,776 shares of the home improvement retailer’s stock valued at $1,079,320,000 after buying an additional 463,012 shares during the period. 74.06% of the stock is currently owned by institutional investors.
Lowe’s Companies Trading Up 0.6%
Shares of Lowe’s Companies stock opened at $287.36 on Friday. The stock’s fifty day moving average price is $261.04 and its 200-day moving average price is $251.73. The firm has a market cap of $161.19 billion, a P/E ratio of 23.83, a P/E/G ratio of 4.48 and a beta of 0.97. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $293.06.
Lowe’s Companies (NYSE:LOW – Get Free Report) last issued its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The company had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. During the same period in the prior year, the business earned $2.89 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have commented on LOW shares. Robert W. Baird dropped their price objective on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Gordon Haskett increased their price objective on shares of Lowe’s Companies from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays upgraded Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 target price for the company in a research report on Wednesday, January 7th. The Goldman Sachs Group increased their price target on Lowe’s Companies from $280.00 to $283.00 and gave the stock a “buy” rating in a report on Friday. Finally, Oppenheimer decreased their price target on Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, December 5th. Twenty analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $286.30.
Check Out Our Latest Stock Report on LOW
Insider Transactions at Lowe’s Companies
In related news, CEO Marvin R. Ellison sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the transaction, the chief executive officer owned 231,043 shares of the company’s stock, valued at $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.
Trending Headlines about Lowe’s Companies
Here are the key news stories impacting Lowe’s Companies this week:
- Positive Sentiment: Gordon Haskett raised its price target to $325 (from $310) and kept a “buy” rating — the new target implies material upside versus current levels and signals stronger analyst confidence in Lowe’s growth and execution. Gordon Haskett raises PT to $325
- Neutral Sentiment: Goldman Sachs nudged its price target slightly to $283 (from $280) and maintained a “buy” rating — a modest lift but still close to the current price, so it offers limited near‑term directional impact. Goldman raises PT to $283
- Neutral Sentiment: Dividend coverage and payout commentary (a roughly 2% yield scorecard) continue to position Lowe’s as an income option for investors, but this doesn’t materially change near‑term earnings expectations. Dividend scorecard
- Negative Sentiment: Lowe’s is eliminating about 600 corporate/support roles (reported as <1% of total headcount) to shift resources toward frontline store associates. While cost savings could help margins over time, the move may trigger short‑term restructuring charges and raises execution/organizational‑risk questions that investors often view cautiously. Lowe’s cuts 600 corporate roles
About Lowe’s Companies
Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.
Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.
See Also
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOW – Free Report).
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