Cidel Asset Management Inc. Acquires 63,746 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Cidel Asset Management Inc. lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1,611.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,702 shares of the home improvement retailer’s stock after buying an additional 63,746 shares during the period. Cidel Asset Management Inc.’s holdings in Lowe’s Companies were worth $16,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Lecap Asset Management Ltd. bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $1,531,000. Golden State Wealth Management LLC acquired a new position in Lowe’s Companies in the fourth quarter valued at about $568,000. Global X Japan Co. Ltd. lifted its position in Lowe’s Companies by 5.3% during the fourth quarter. Global X Japan Co. Ltd. now owns 1,917 shares of the home improvement retailer’s stock worth $473,000 after purchasing an additional 96 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Lowe’s Companies by 6.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 71,198 shares of the home improvement retailer’s stock worth $17,572,000 after buying an additional 4,599 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in Lowe’s Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after buying an additional 1,223,116 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the sale, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Guggenheim restated a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Barclays lifted their price target on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Bank of America upped their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Mizuho lifted their target price on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $252.17 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The company has a 50 day simple moving average of $257.65 and a two-hundred day simple moving average of $257.70. The company has a market capitalization of $142.39 billion, a PE ratio of 21.03, a P/E/G ratio of 2.18 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

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.