Eastover Investment Advisors LLC Sells 648 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Eastover Investment Advisors LLC trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,588 shares of the home improvement retailer’s stock after selling 648 shares during the quarter. Lowe’s Companies comprises about 3.3% of Eastover Investment Advisors LLC’s investment portfolio, making the stock its 13th biggest position. Eastover Investment Advisors LLC’s holdings in Lowe’s Companies were worth $7,056,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LOW. StoneX Group Inc. purchased a new position in shares of Lowe’s Companies in the 3rd quarter worth $2,713,000. Principal Financial Group Inc. lifted its holdings in shares of Lowe’s Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after acquiring an additional 24,812 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Lowe’s Companies by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after acquiring an additional 4,435 shares in the last quarter. HM Payson & Co. increased its stake in Lowe’s Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after acquiring an additional 2,322 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in Lowe’s Companies during the third quarter valued at approximately $16,143,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW opened at $247.78 on Monday. The stock has a market capitalization of $139.91 billion, a PE ratio of 20.67, a PEG ratio of 2.20 and a beta of 1.11. The company has a 50 day moving average price of $261.23 and a 200-day moving average price of $253.51. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.86%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. DA Davidson lifted their target price on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Truist Financial dropped their price objective on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Barclays increased their target price on shares of 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. Royal Bank of Canada lifted their price target on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Finally, Melius Research began coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company 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.