Bangor Savings Bank Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

Bangor Savings Bank decreased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,664 shares of the home improvement retailer’s stock after selling 168 shares during the quarter. Bangor Savings Bank’s holdings in Lowe’s Companies were worth $2,385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. StoneX Group Inc. purchased a new position in shares of Lowe’s Companies during the third quarter valued at approximately $2,713,000. Principal Financial Group Inc. raised its stake in Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after buying an additional 24,812 shares during the last quarter. HM Payson & Co. lifted its holdings in shares of Lowe’s Companies by 1.1% during the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after buying an additional 2,322 shares during the period. Weiss Asset Management LP bought a new position in shares of Lowe’s Companies during the 3rd quarter valued at $16,143,000. Finally, Daymark Wealth Partners LLC boosted its stake in shares of Lowe’s Companies by 12.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after buying an additional 2,889 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Quonta D. Vance sold 7,198 shares of the business’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 sale, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LOW. Bank of America increased their target price on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Stifel Nicolaus increased their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Finally, Melius Research assumed coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Stock Up 0.4 %

Shares of Lowe’s Companies stock opened at $249.46 on Tuesday. Lowe’s Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01. The business has a 50-day moving average price of $262.43 and a 200-day moving average price of $252.84. The firm has a market cap of $140.86 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

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 1.84%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

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.