Wesbanco Bank Inc. Lowers Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Wesbanco Bank Inc. reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 56,041 shares of the home improvement retailer’s stock after selling 1,191 shares during the period. Wesbanco Bank Inc.’s holdings in Lowe’s Companies were worth $13,831,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Lowe’s Companies by 59.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 109,597 shares of the home improvement retailer’s stock valued at $24,162,000 after buying an additional 40,701 shares during the period. Insigneo Advisory Services LLC grew its stake in shares of Lowe’s Companies by 337.5% during the 2nd quarter. Insigneo Advisory Services LLC now owns 6,974 shares of the home improvement retailer’s stock valued at $1,653,000 after buying an additional 5,380 shares during the period. Caxton Associates LP purchased a new stake in shares of Lowe’s Companies during the 2nd quarter valued at $1,276,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Lowe’s Companies during the 2nd quarter valued at $77,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Lowe’s Companies by 37.6% during the 2nd quarter. AQR Capital Management LLC now owns 80,500 shares of the home improvement retailer’s stock valued at $17,664,000 after acquiring an additional 21,995 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LOW has been the topic of several recent research reports. Evercore ISI lifted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Sanford C. Bernstein lifted their target price on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Wedbush restated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Piper Sandler lifted their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company lifted their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Down 2.4 %

Shares of NYSE:LOW opened at $258.04 on Thursday. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The firm has a 50-day simple moving average of $259.72 and a 200 day simple moving average of $255.58. The company has a market cap of $145.70 billion, a PE ratio of 21.52, a P/E/G ratio of 2.22 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio 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.