Founders Capital Management LLC Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Founders Capital Management LLC decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,240 shares of the home improvement retailer’s stock after selling 338 shares during the period. Lowe’s Companies accounts for 1.0% of Founders Capital Management LLC’s holdings, making the stock its 23rd biggest position. Founders Capital Management LLC’s holdings in Lowe’s Companies were worth $5,982,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LOW. StoneX Group Inc. purchased a new stake in Lowe’s Companies in the third quarter valued at about $2,713,000. Principal Financial Group Inc. grew its position in Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after purchasing an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Lowe’s Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after buying an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Lowe’s Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after buying an additional 4,435 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of Lowe’s Companies by 308.0% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock valued at $6,988,000 after acquiring an additional 21,375 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of LOW opened at $259.91 on Friday. The firm has a 50-day simple moving average of $259.00 and a two-hundred day simple moving average of $257.24. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The stock has a market cap of $146.76 billion, a PE ratio of 21.68, a P/E/G ratio of 2.19 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The company 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 dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 16,703 shares of the company’s stock, 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 available at this link. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on LOW shares. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Stifel Nicolaus raised their target price on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Royal Bank of Canada boosted their price target on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Truist Financial dropped their price objective on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $280.85.

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.