Abacus Wealth Partners LLC Lowers Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Abacus Wealth Partners LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,566 shares of the home improvement retailer’s stock after selling 42 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Lowe’s Companies were worth $633,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ulland Investment Advisors LLC raised its stake in Lowe’s Companies by 1.2% during the fourth quarter. Ulland Investment Advisors LLC now owns 10,255 shares of the home improvement retailer’s stock worth $2,531,000 after purchasing an additional 123 shares during the period. SFG Wealth Management LLC. acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth $262,000. Uncommon Cents Investing LLC raised its position in shares of Lowe’s Companies by 1.5% in the 4th quarter. Uncommon Cents Investing LLC now owns 3,085 shares of the home improvement retailer’s stock worth $761,000 after buying an additional 45 shares during the period. UMB Bank n.a. boosted its holdings in Lowe’s Companies by 1.3% in the fourth quarter. UMB Bank n.a. now owns 16,017 shares of the home improvement retailer’s stock valued at $3,953,000 after acquiring an additional 199 shares during the last quarter. Finally, Strong Tower Advisory Services grew its position in Lowe’s Companies by 4.2% during the fourth quarter. Strong Tower Advisory Services now owns 9,618 shares of the home improvement retailer’s stock valued at $2,374,000 after acquiring an additional 387 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were 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 owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Stock Performance

LOW opened at $261.39 on Tuesday. The company has a market capitalization of $147.59 billion, a P/E ratio of 21.80, a PEG ratio of 2.19 and a beta of 1.11. The company has a 50-day moving average of $260.10 and a 200-day moving average of $254.89. Lowe’s Companies, Inc. has a 1-year low of $209.55 and a 1-year high of $287.01.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Wall Street Analysts Forecast Growth

LOW has been the topic of several research analyst reports. Barclays lifted their price objective 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. Sanford C. Bernstein lifted their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Piper Sandler lifted their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Mizuho increased their price target on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Company Profile

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.