Breakwater Capital Group Reduces Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Breakwater Capital Group lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,356 shares of the home improvement retailer’s stock after selling 73 shares during the period. Breakwater Capital Group’s holdings in Lowe’s Companies were worth $1,075,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Lowe’s Companies by 10.2% during the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after buying an additional 2,399,897 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Lowe’s Companies by 1,889.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after purchasing an additional 2,027,668 shares during the period. Applied Finance Capital Management LLC boosted its position in shares of Lowe’s Companies by 387.7% during the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after purchasing an additional 645,017 shares in the last quarter. Marshall Wace LLP grew its stake in Lowe’s Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after purchasing an additional 463,645 shares during the period. Finally, State Street Corp raised its holdings in Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after purchasing an additional 460,851 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 0.3 %

Shares of NYSE LOW opened at $248.64 on Tuesday. Lowe’s Companies, Inc. has a 12-month low of $209.55 and a 12-month high of $287.01. The firm has a market capitalization of $140.39 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The firm has a 50 day moving average of $260.90 and a 200 day moving average of $253.71.

Lowe’s Companies Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Evercore ISI boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Royal Bank of Canada upped their price target on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Bank of America raised their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and upped their target price for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Eleven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

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 shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the completion of the sale, the executive vice president now directly 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 SEC, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

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.