Berkshire Bank Sells 204 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Berkshire Bank decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,869 shares of the home improvement retailer’s stock after selling 204 shares during the quarter. Berkshire Bank’s holdings in Lowe’s Companies were worth $708,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LOW. FMR LLC boosted its stake in Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Lowe’s Companies by 1,889.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after acquiring an additional 2,027,668 shares during the period. Applied Finance Capital Management LLC boosted its holdings in shares of Lowe’s Companies by 387.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after acquiring an additional 645,017 shares during the last quarter. State Street Corp grew its stake in shares of Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after acquiring an additional 460,851 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in Lowe’s Companies by 219.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 458,343 shares of the home improvement retailer’s stock worth $124,142,000 after purchasing an additional 314,861 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Up 2.3 %

Shares of Lowe’s Companies stock opened at $268.34 on Tuesday. Lowe’s Companies, Inc. has a twelve month low of $209.81 and a twelve month high of $287.01. The business has a 50-day moving average price of $259.11 and a 200-day moving average price of $256.48. The firm has a market cap of $151.52 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.16 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Insiders Place Their Bets

In other news, EVP Quonta D. Vance sold 7,198 shares of the business’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 sale, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on LOW. Barclays raised their price target on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Guggenheim restated a “buy” rating and set a $300.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Piper Sandler increased their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. TD Cowen boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

About Lowe’s Companies

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.