CCM Investment Advisers LLC Lowers Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

CCM Investment Advisers LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,665 shares of the home improvement retailer’s stock after selling 68 shares during the period. CCM Investment Advisers LLC’s holdings in Lowe’s Companies were worth $658,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LOW. Legacy Investment Solutions LLC purchased a new position in Lowe’s Companies in the third quarter worth approximately $27,000. JNBA Financial Advisors raised its stake in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. MFA Wealth Advisors LLC lifted its holdings in Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares during the last quarter. Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the 2nd quarter worth about $37,000. Finally, Tsfg LLC raised its position in shares of Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LOW. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Piper Sandler raised their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Stifel Nicolaus upped their price target 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. Finally, Royal Bank of Canada lifted their price objective on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Eleven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $280.85.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction 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 document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Stock Performance

NYSE LOW traded up $1.88 during trading hours on Friday, reaching $248.77. The company’s stock had a trading volume of 998,953 shares, compared to its average volume of 2,048,764. The stock has a market cap of $140.47 billion, a PE ratio of 20.75, a PEG ratio of 2.20 and a beta of 1.11. The company’s 50-day moving average is $261.51 and its two-hundred day moving average is $252.88. 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 Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.85%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

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.