Cynosure Group LLC Trims Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Cynosure Group LLC cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,793 shares of the home improvement retailer’s stock after selling 161 shares during the period. Cynosure Group LLC’s holdings in Lowe’s Companies were worth $486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in LOW. Hancock Whitney Corp increased its position in Lowe’s Companies by 1.8% during the 1st quarter. Hancock Whitney Corp now owns 5,138 shares of the home improvement retailer’s stock valued at $1,309,000 after purchasing an additional 93 shares during the period. Citizens Financial Group Inc. RI boosted its stake in shares of Lowe’s Companies by 3.9% during the first quarter. Citizens Financial Group Inc. RI now owns 12,754 shares of the home improvement retailer’s stock valued at $3,249,000 after purchasing an additional 478 shares in the last quarter. Virtu Financial LLC purchased a new position in Lowe’s Companies during the first quarter valued at approximately $814,000. LRI Investments LLC bought a new position in Lowe’s Companies in the first quarter worth approximately $264,000. Finally, Swedbank AB purchased a new stake in Lowe’s Companies during the first quarter worth $79,366,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the topic of several recent research reports. Barclays increased their target price on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Melius Research started coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price on the stock. Bank of America increased their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Stifel Nicolaus raised their target price on shares of Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research note on Tuesday, November 19th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $273.14 on Thursday. Lowe’s Companies, Inc. has a 12 month low of $196.32 and a 12 month high of $287.01. The stock has a market capitalization of $154.95 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.31 and a beta of 1.10. The business has a 50 day simple moving average of $269.80 and a 200-day simple moving average of $245.66.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.68%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

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.