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

Douglas Lane & Associates LLC reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.6% in the 4th quarter, Holdings Channel.com reports. The firm 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 institutional investors also recently bought and sold shares of the company. StoneX Group Inc. acquired a new stake in shares of Lowe’s Companies during the 3rd quarter worth approximately $2,713,000. Principal Financial Group Inc. increased its stake in Lowe’s Companies by 4.0% during the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after acquiring an additional 24,812 shares during the last quarter. HM Payson & Co. raised its position in Lowe’s Companies by 1.1% in the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after purchasing an additional 2,322 shares during the period. Weiss Asset Management LP acquired a new position in shares of Lowe’s Companies in the 3rd quarter valued at $16,143,000. Finally, Daymark Wealth Partners LLC grew its holdings 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 purchasing an additional 2,889 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of LOW stock traded down $0.53 during trading hours on Wednesday, hitting $246.04. The stock had a trading volume of 898,725 shares, compared to its average volume of 1,972,041. The firm has a market capitalization of $138.93 billion, a PE ratio of 20.52, a PEG ratio of 2.20 and a beta of 1.11. The stock’s 50 day moving average is $262.10 and its 200 day moving average is $252.97. Lowe’s Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01.

Lowe’s Companies Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LOW. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. DA Davidson upped their price objective on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Barclays lifted 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 report on Wednesday, November 20th. Evercore ISI lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $280.85.

Insider Transactions at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

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.