1858 Wealth Management LLC Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

1858 Wealth Management LLC lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.8% during the fourth quarter, Holdings Channel reports. The fund owned 900 shares of the home improvement retailer’s stock after selling 132 shares during the quarter. 1858 Wealth Management LLC’s holdings in Lowe’s Companies were worth $222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares in the last quarter. State Street Corp raised its position in shares of Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after buying an additional 460,851 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Lowe’s Companies by 1.6% during the third 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 buying an additional 187,473 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lowe’s Companies by 1.2% during the third 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. Finally, Ontario Teachers Pension Plan Board boosted its position in Lowe’s Companies by 1.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock worth $634,700,000 after acquiring an additional 36,054 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity

In other 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 sale, the executive vice president now directly owns 16,703 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

LOW stock opened at $257.23 on Wednesday. The firm has a market cap of $145.24 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 2.18 and a beta of 1.11. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The stock has a 50-day simple moving average of $258.63 and a 200-day simple moving average of $257.58.

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 given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Analysts Set New Price Targets

Several research analysts have weighed in on LOW shares. Barclays boosted their price target on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. TD Cowen upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Mizuho increased their price objective on shares of Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

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.