Cohen Klingenstein LLC Reduces Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Cohen Klingenstein LLC lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 45.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,950 shares of the home improvement retailer’s stock after selling 10,100 shares during the quarter. Cohen Klingenstein LLC’s holdings in Lowe’s Companies were worth $2,949,000 as of its most recent filing with the Securities & Exchange Commission.

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

Lowe’s Companies Stock Performance

LOW stock opened at $261.39 on Friday. The firm has a 50-day simple moving average of $260.29 and a two-hundred day simple moving average of $253.98. Lowe’s Companies, Inc. has a one year low of $209.55 and a one year high of $287.01. The firm has a market cap of $147.59 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.08 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Analyst Upgrades and Downgrades

Several brokerages have commented on LOW. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 target price 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 lifted their price objective for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Wells Fargo & Company boosted their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, DA Davidson upped their price objective on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

Insiders Place Their Bets

In other news, EVP Quonta D. Vance sold 7,198 shares of the 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 $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.

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.