Cullinan Associates Inc. boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 11.7% in the third quarter, HoldingsChannel.com reports. The fund owned 110,291 shares of the home improvement retailer’s stock after buying an additional 11,560 shares during the quarter. Lowe’s Companies makes up about 0.9% of Cullinan Associates Inc.’s holdings, making the stock its 20th biggest holding. Cullinan Associates Inc.’s holdings in Lowe’s Companies were worth $12,664,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Almanack Investment Partners LLC. purchased a new position in shares of Lowe’s Companies during the 2nd quarter valued at approximately $103,000. CSat Investment Advisory L.P. purchased a new position in shares of Lowe’s Companies during the 2nd quarter valued at approximately $108,000. NuWave Investment Management LLC purchased a new position in shares of Lowe’s Companies during the 2nd quarter valued at approximately $126,000. FNY Investment Advisers LLC purchased a new position in shares of Lowe’s Companies during the 2nd quarter valued at approximately $127,000. Finally, Rainier Group Investment Advisory LLC purchased a new position in shares of Lowe’s Companies during the 1st quarter valued at approximately $121,000. Hedge funds and other institutional investors own 74.61% of the company’s stock.

In other Lowe’s Companies news, CFO Marshall A. Croom sold 15,735 shares of the stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total value of $1,803,388.35. Following the sale, the chief financial officer now directly owns 63,099 shares of the company’s stock, valued at $7,231,776.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lisa W. Wardell bought 273 shares of the company’s stock in a transaction on Friday, August 24th. The stock was bought at an average cost of $107.72 per share, for a total transaction of $29,407.56. Following the completion of the transaction, the director now directly owns 273 shares of the company’s stock, valued at $29,407.56. The disclosure for this purchase can be found here. 0.30% of the stock is owned by company insiders.

LOW stock opened at $99.59 on Friday. Lowe’s Companies, Inc. has a 12-month low of $75.36 and a 12-month high of $117.70. The company has a current ratio of 1.06, a quick ratio of 0.25 and a debt-to-equity ratio of 2.58. The company has a market cap of $82.80 billion, a P/E ratio of 22.69, a PEG ratio of 1.37 and a beta of 1.39.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.05. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. The firm had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. During the same period last year, the company earned $1.57 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts expect that Lowe’s Companies, Inc. will post 5.19 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders of record on Wednesday, October 24th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 43.74%.

Several equities analysts have recently commented on LOW shares. SunTrust Banks upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Friday, September 28th. Morgan Stanley increased their target price on Lowe’s Companies from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. KeyCorp reiterated an “overweight” rating and set a $115.00 target price (up from $105.00) on shares of Lowe’s Companies in a research note on Tuesday, July 24th. Robert W. Baird increased their target price on Lowe’s Companies from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 22nd. Finally, Royal Bank of Canada increased their target price on Lowe’s Companies to $118.00 and gave the company an “outperform” rating in a research note on Thursday, August 23rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Lowe’s Companies presently has a consensus rating of “Buy” and an average target price of $112.67.

Lowe’s Companies Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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