Beaumont Financial Advisors LLC Sells 1,445 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Beaumont Financial Advisors LLC reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% in the 4th quarter, Holdings Channel reports. The fund owned 89,279 shares of the home improvement retailer’s stock after selling 1,445 shares during the quarter. Lowe’s Companies accounts for 1.7% of Beaumont Financial Advisors LLC’s portfolio, making the stock its 20th biggest position. Beaumont Financial Advisors LLC’s holdings in Lowe’s Companies were worth $22,034,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. FMR LLC boosted its stake in shares of Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares during the last quarter. State Street Corp boosted its stake in Lowe’s Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after purchasing an additional 460,851 shares during the period. Geode Capital Management LLC boosted its holdings in Lowe’s Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after purchasing an additional 187,473 shares during the period. Legal & General Group Plc raised its holdings in Lowe’s Companies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Lowe’s Companies by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock valued at $912,508,000 after buying an additional 39,953 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction dated 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 owns 16,703 shares in the company, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Evercore ISI increased their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Piper Sandler increased their price objective 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. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Bank of America raised their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $264.34 on Wednesday. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The stock’s 50-day simple moving average is $259.83 and its 200-day simple moving average is $255.23. The firm has a market capitalization of $149.26 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.19 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The firm 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 $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.74%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is 38.37%.

Lowe’s Companies Company 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.