Northwest & Ethical Investments L.P. Lowers Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Northwest & Ethical Investments L.P. cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,760 shares of the home improvement retailer’s stock after selling 3,076 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Lowe’s Companies were worth $11,582,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vinva Investment Management Ltd lifted its holdings in shares of Lowe’s Companies by 2.3% during the third quarter. Vinva Investment Management Ltd now owns 6,059 shares of the home improvement retailer’s stock worth $1,619,000 after purchasing an additional 134 shares during the period. Noesis Capital Mangement Corp boosted its holdings in shares of Lowe’s Companies by 2.7% in the third quarter. Noesis Capital Mangement Corp now owns 62,843 shares of the home improvement retailer’s stock valued at $17,021,000 after acquiring an additional 1,647 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Lowe’s Companies by 11.1% in the third quarter. Public Sector Pension Investment Board now owns 532,194 shares of the home improvement retailer’s stock valued at $144,145,000 after acquiring an additional 53,340 shares in the last quarter. Fiduciary Trust Co increased its stake in shares of Lowe’s Companies by 3.3% during the third quarter. Fiduciary Trust Co now owns 69,961 shares of the home improvement retailer’s stock worth $18,949,000 after acquiring an additional 2,216 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in Lowe’s Companies by 18.5% during the third quarter. CreativeOne Wealth LLC now owns 12,344 shares of the home improvement retailer’s stock worth $3,343,000 after purchasing an additional 1,924 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

NYSE:LOW traded down $1.28 on Thursday, reaching $273.19. The stock had a trading volume of 2,263,842 shares, compared to its average volume of 2,452,104. Lowe’s Companies, Inc. has a 12-month low of $196.32 and a 12-month high of $287.01. The company has a market cap of $154.98 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 2.31 and a beta of 1.10. The firm’s fifty day moving average is $269.80 and its two-hundred day moving average is $245.66.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.68%. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Analyst Ratings Changes

A number of brokerages have weighed in on LOW. Morgan Stanley lifted their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Stifel Nicolaus upped their price objective on Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Barclays upped their price target on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, November 19th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $277.92.

Insider Buying and Selling

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

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.