By otakuyassine3@gmail.com 
Bar Harbor Wealth Management trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,004 shares of the home improvement retailer’s stock after selling 381 shares during the period. Bar Harbor Wealth Management’s holdings in Lowe’s Companies were worth $2,222,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale lifted its stake in Lowe’s Companies by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 209,846 shares of the home improvement retailer’s stock valued at $45,961,000 after purchasing an additional 594 shares during the last quarter. Wealthspire Advisors LLC grew its stake in shares of Lowe’s Companies by 1.1% during the 2nd quarter. Wealthspire Advisors LLC now owns 6,972 shares of the home improvement retailer’s stock worth $1,537,000 after acquiring an additional 74 shares during the period. Envestnet Asset Management Inc. increased its holdings in Lowe’s Companies by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after acquiring an additional 90,945 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in Lowe’s Companies by 3.9% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,215 shares of the home improvement retailer’s stock valued at $1,591,000 after acquiring an additional 272 shares during the period. Finally, Lyell Wealth Management LP lifted its holdings in Lowe’s Companies by 2.0% during the second quarter. Lyell Wealth Management LP now owns 4,320 shares of the home improvement retailer’s stock valued at $952,000 after purchasing an additional 83 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.
Lowe’s Companies Trading Up 0.3 %
Shares of LOW stock traded up $0.74 during midday trading on Monday, reaching $248.64. 1,841,444 shares of the stock were exchanged, compared to its average volume of 2,217,502. The firm has a market cap of $140.39 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The company’s 50 day moving average is $261.23 and its two-hundred day moving average is $253.51. Lowe’s Companies, Inc. has a 1 year low of $209.55 and a 1 year high of $287.01.
Lowe’s Companies Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders 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 yield of 1.85%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on LOW. Piper Sandler boosted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Truist Financial dropped their target price on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Bank of America increased their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. 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. Eleven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $280.85.
Get Our Latest Research Report on LOW
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.
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