Courier Capital LLC Decreases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Courier Capital LLC lessened its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,868 shares of the home improvement retailer’s stock after selling 1,625 shares during the period. Courier Capital LLC’s holdings in Lowe’s Companies were worth $5,890,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LOW. StoneX Group Inc. bought a new position in Lowe’s Companies in the 3rd quarter worth about $2,713,000. Principal Financial Group Inc. grew its stake in Lowe’s Companies by 4.0% during the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after acquiring an additional 24,812 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Lowe’s Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after acquiring an additional 4,435 shares during the period. HM Payson & Co. lifted its stake in Lowe’s Companies by 1.1% in the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after purchasing an additional 2,322 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in Lowe’s Companies in the 3rd quarter valued at $16,143,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.3 %

Shares of NYSE:LOW traded up $0.74 during midday trading on Monday, reaching $248.64. The company’s stock had a trading volume of 2,689,449 shares, compared to its average volume of 2,351,597. The firm has a 50 day moving average of $261.23 and a 200-day moving average of $253.51. The firm has a market capitalization of $140.39 billion, a P/E ratio of 20.74, a PEG ratio of 2.20 and a beta of 1.11. Lowe’s Companies, Inc. has a 12-month low of $209.55 and a 12-month high of $287.01.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is 38.37%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LOW shares. Piper Sandler increased their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Sanford C. Bernstein upped their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Royal Bank of Canada lifted their target price on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, StockNews.com lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $280.85.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was 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 $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company’s stock.

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.