Mechanics Bank Trust Department Cuts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Mechanics Bank Trust Department cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the fourth quarter, Holdings Channel reports. The fund owned 9,659 shares of the home improvement retailer’s stock after selling 217 shares during the quarter. Mechanics Bank Trust Department’s holdings in Lowe’s Companies were worth $2,384,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFS Advisors LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Lowe’s Companies during the third quarter worth $27,000. Winch Advisory Services LLC boosted its position in Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 44 shares in the last quarter. JNBA Financial Advisors increased its holdings in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Finally, MFA Wealth Advisors LLC raised its position in shares of Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after acquiring an additional 70 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on LOW. 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. Royal Bank of Canada lifted their price objective on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Stifel Nicolaus increased their target price on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Guggenheim reaffirmed a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Stock Performance

NYSE LOW opened at $261.39 on Monday. The firm has a market capitalization of $147.59 billion, a P/E ratio of 21.80, a PEG ratio of 2.08 and a beta of 1.11. The stock has a 50-day simple moving average of $260.10 and a two-hundred day simple moving average of $254.60. 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 declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies 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 transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.