Dixon Mitchell Investment Counsel Inc. Sells 3,608 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Dixon Mitchell Investment Counsel Inc. lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,428 shares of the home improvement retailer’s stock after selling 3,608 shares during the period. Lowe’s Companies accounts for approximately 2.8% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 12th biggest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Lowe’s Companies were worth $61,559,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Lowe’s Companies in the third quarter worth $27,000. IFS Advisors LLC purchased a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $25,000. JNBA Financial Advisors increased its position in shares of Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Winch Advisory Services LLC raised its holdings in 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 acquiring an additional 44 shares during the last quarter. Finally, MFA Wealth Advisors LLC lifted its position in Lowe’s Companies by 118.6% in the 3rd 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. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction on 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on LOW shares. TD Cowen lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Sanford C. Bernstein lifted their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note 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 company an “overweight” rating in a research report on Monday, September 30th. Finally, Mizuho lifted their target price on shares of Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $256.08 on Thursday. The business has a fifty day moving average price of $260.54 and a 200 day moving average price of $253.93. Lowe’s Companies, Inc. has a 1-year low of $209.55 and a 1-year high of $287.01. The stock has a market capitalization of $144.60 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.80%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Lowe’s Companies 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.