Cadence Bank NA Has $2.75 Million Position in Lowe’s Companies, Inc. (LOW)

Cadence Bank NA cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,979 shares of the home improvement retailer’s stock after selling 1,045 shares during the period. Lowe’s Companies accounts for 1.0% of Cadence Bank NA’s investment portfolio, making the stock its 22nd biggest position. Cadence Bank NA’s holdings in Lowe’s Companies were worth $2,753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Boston Partners boosted its holdings in Lowe’s Companies by 382.4% in the 2nd quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock valued at $457,230,000 after purchasing an additional 3,792,479 shares during the period. Winslow Capital Management LLC bought a new position in Lowe’s Companies in the 2nd quarter valued at $303,908,000. Charles Schwab Investment Advisory Inc. bought a new position in Lowe’s Companies in the 2nd quarter valued at $266,540,000. Artisan Partners Limited Partnership bought a new position in Lowe’s Companies in the 2nd quarter valued at $206,665,000. Finally, Cornerstone Wealth Management LLC boosted its holdings in Lowe’s Companies by 9,531.7% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 851,443 shares of the home improvement retailer’s stock valued at $8,975,000 after purchasing an additional 842,603 shares during the period. 74.59% of the stock is owned by institutional investors.

In related news, CFO Marshall A. Croom sold 15,735 shares of Lowe’s Companies stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total value of $1,803,388.35. Following the transaction, the chief financial officer now owns 63,099 shares in the company, valued at approximately $7,231,776.39. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lisa W. Wardell bought 273 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was acquired at an average price of $107.72 per share, for a total transaction of $29,407.56. Following the transaction, the director now owns 273 shares in the company, 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 has been the subject of several analyst reports. Loop Capital set a $115.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Wednesday, July 18th. KeyCorp reaffirmed an “overweight” rating and set a $115.00 price objective (up from $105.00) on shares of Lowe’s Companies in a report on Tuesday, July 24th. Zacks Investment Research raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a report on Tuesday, July 24th. Jefferies Financial Group began coverage on shares of Lowe’s Companies in a report on Tuesday, August 21st. They set a “buy” rating and a $118.00 price objective for the company. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Lowe’s Companies in a report on Wednesday, August 22nd. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $112.41.

Shares of NYSE:LOW opened at $96.82 on Friday. The firm has a market capitalization of $80.40 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.52. Lowe’s Companies, Inc. has a 52 week low of $77.14 and a 52 week high of $117.70. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.25 and a current ratio of 1.06.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. The company had revenue of $20.89 billion for the quarter, compared to analysts’ expectations of $20.79 billion. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.57 EPS. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 5.17 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 6th. Investors of record on Wednesday, January 23rd will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.98%. Lowe’s Companies’s payout ratio is presently 43.74%.

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About Lowe’s Companies

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.

Further Reading: Hedge Funds Explained

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

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