Cynosure Group LLC Cuts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Cynosure Group LLC reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,793 shares of the home improvement retailer’s stock after selling 161 shares during the period. Cynosure Group LLC’s holdings in Lowe’s Companies were worth $486,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. StoneX Group Inc. acquired a new stake in shares of Lowe’s Companies in the third quarter valued at $2,713,000. HM Payson & Co. raised its position 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 valued at $58,409,000 after purchasing an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC boosted its stake in shares of Lowe’s Companies by 12.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after buying an additional 2,889 shares during the period. AMF Tjanstepension AB grew its position in shares of Lowe’s Companies by 14.4% during the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after buying an additional 20,123 shares in the last quarter. Finally, Claro Advisors LLC increased its stake in shares of Lowe’s Companies by 2,246.3% during the third quarter. Claro Advisors LLC now owns 40,521 shares of the home improvement retailer’s stock worth $10,975,000 after buying an additional 38,794 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on LOW. Evercore ISI boosted their price target on shares of Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a report on Wednesday, November 20th. Wells Fargo & Company upped their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. cut their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Piper Sandler upped their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Sanford C. Bernstein dropped their price target on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $277.92.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $273.14 on Thursday. The stock’s 50 day moving average price is $269.80 and its 200 day moving average price is $245.66. The company has a market cap of $154.95 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.31 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $196.32 and a 1-year high of $287.01.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.68%. Lowe’s Companies’s dividend payout ratio is 38.37%.

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.