KBC Group NV Trims Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

KBC Group NV reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,915 shares of the home improvement retailer’s stock after selling 3,976 shares during the period. KBC Group NV’s holdings in Lowe’s Companies were worth $47,612,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Crew Capital Management Ltd. lifted its holdings in Lowe’s Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after purchasing an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC lifted its stake in shares of Lowe’s Companies by 2.8% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after buying an additional 37 shares in the last quarter. Clean Yield Group boosted its holdings in Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after buying an additional 38 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in Lowe’s Companies by 0.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after buying an additional 40 shares during the period. Finally, Chapin Davis Inc. increased its stake in Lowe’s Companies by 1.3% in the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after buying an additional 41 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LOW. Stifel Nicolaus boosted their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Guggenheim reissued a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. Sanford C. Bernstein increased their price objective 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. Piper Sandler boosted their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Barclays upped their target price on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Up 2.3 %

LOW opened at $268.34 on Tuesday. The business has a fifty day moving average of $259.11 and a 200 day moving average of $256.48. Lowe’s Companies, Inc. has a 52-week low of $209.81 and a 52-week high of $287.01. The stock has a market cap of $151.52 billion, a P/E ratio of 22.38, a PEG ratio of 2.16 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The business 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. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s 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.