First Financial Bank Trust Division Cuts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

First Financial Bank Trust Division cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,668 shares of the home improvement retailer’s stock after selling 865 shares during the quarter. Lowe’s Companies accounts for 0.9% of First Financial Bank Trust Division’s investment portfolio, making the stock its 28th largest position. First Financial Bank Trust Division’s holdings in Lowe’s Companies were worth $9,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after acquiring an additional 2,399,897 shares in the last quarter. State Street Corp increased its holdings in Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after purchasing an additional 460,851 shares during the period. Geode Capital Management LLC raised its position 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 in the last quarter. Legal & General Group Plc boosted its stake in shares of 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 buying an additional 82,978 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position 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 worth $912,508,000 after buying an additional 39,953 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on LOW shares. Wedbush reaffirmed 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 increased their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Royal Bank of Canada increased their price target 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. Finally, Evercore ISI boosted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Stock Up 0.1 %

NYSE LOW traded up $0.18 during trading hours on Thursday, hitting $246.98. 1,970,475 shares of the stock were exchanged, compared to its average volume of 2,440,164. Lowe’s Companies, Inc. has a 12-month low of $209.55 and a 12-month high of $287.01. The stock has a 50-day moving average of $263.67 and a 200 day moving average of $252.22. The company has a market cap of $139.46 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.20 and a beta of 1.09.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.86%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Activity at Lowe’s Companies

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 transaction of $1,974,915.26. Following the transaction, the executive vice president now directly 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 filing with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

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.