Douglas Lane & Associates LLC Decreases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Douglas Lane & Associates LLC lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 259,170 shares of the home improvement retailer’s stock after selling 12,399 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Lowe’s Companies were worth $63,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. StoneX Group Inc. purchased a new stake in Lowe’s Companies in the 3rd quarter valued at about $2,713,000. Principal Financial Group Inc. increased its holdings in Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after purchasing an additional 24,812 shares during the period. HM Payson & Co. increased its holdings in Lowe’s Companies by 1.1% during the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after purchasing an additional 2,322 shares during the period. Weiss Asset Management LP purchased a new stake in shares of Lowe’s Companies in the 3rd quarter worth $16,143,000. Finally, Daymark Wealth Partners LLC grew its position in shares of Lowe’s Companies by 12.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after buying an additional 2,889 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.2 %

Shares of LOW stock traded down $0.53 during mid-day trading on Wednesday, hitting $246.04. 898,725 shares of the stock were exchanged, compared to its average volume of 1,972,041. Lowe’s Companies, Inc. has a 52-week low of $209.55 and a 52-week high of $287.01. The company has a market cap of $138.93 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The firm has a fifty day moving average of $262.10 and a 200 day moving average of $252.97.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.87%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is currently 38.37%.

Insider Transactions at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LOW. Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price on the stock. Piper Sandler lifted their price objective 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. Wells Fargo & Company upped their target price on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Bank of America boosted their price target 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, DA Davidson raised their price objective on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies 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.