Cullinan Associates Inc. Grows Stake in Lowe’s Companies, Inc. (LOW)

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Cullinan Associates Inc. lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. 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 largest position. Cullinan Associates Inc.’s holdings in Lowe’s Companies were worth $12,664,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Stony Point Wealth Management Inc. acquired a new position in shares of Lowe’s Companies during the 3rd quarter worth $207,000. Legacy Advisors LLC acquired a new position in shares of Lowe’s Companies during the 3rd quarter worth $2,053,000. First Citizens Bank & Trust Co. raised its stake in shares of Lowe’s Companies by 32.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,198 shares of the home improvement retailer’s stock worth $597,000 after buying an additional 1,288 shares during the last quarter. Fiduciary Group LLC acquired a new position in shares of Lowe’s Companies during the 3rd quarter worth $218,000. Finally, Aperio Group LLC raised its stake in shares of Lowe’s Companies by 2.9% during the 3rd quarter. Aperio Group LLC now owns 551,764 shares of the home improvement retailer’s stock worth $63,354,000 after buying an additional 15,415 shares during the last quarter. 74.61% of the stock is owned by institutional investors and hedge funds.

In related news, Director Lisa W. Wardell acquired 273 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was bought at an average price of $107.72 per share, with a total value of $29,407.56. Following the purchase, the director now directly owns 273 shares in the company, valued at approximately $29,407.56. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Marshall A. Croom sold 15,735 shares of the company’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total transaction of $1,803,388.35. Following the transaction, the chief financial officer now directly owns 63,099 shares of the company’s stock, valued at approximately $7,231,776.39. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

NYSE LOW 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 debt-to-equity ratio of 2.58, a current ratio of 1.06 and a quick ratio of 0.25. The stock has a market cap of $82.80 billion, a PE ratio of 22.69, a P/E/G ratio of 1.37 and a beta of 1.39.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.05. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The company had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. During the same quarter in the prior year, the company posted $1.57 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts expect that Lowe’s Companies, Inc. will post 5.19 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 7th. Stockholders of record on Wednesday, October 24th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Tuesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 43.74%.

Several research analysts have recently issued reports on the company. Goldman Sachs Group set a $125.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research note on Friday, September 28th. Bank of America set a $132.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. SunTrust Banks raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, September 28th. Telsey Advisory Group lifted their price target on Lowe’s Companies from $123.00 to $126.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $130.00 price target (up previously from $120.00) on shares of Lowe’s Companies in a research note on Monday, September 17th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock has an average 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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