Naples Global Advisors LLC Lowers Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Naples Global Advisors LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,614 shares of the home improvement retailer’s stock after selling 49 shares during the quarter. Naples Global Advisors LLC’s holdings in Lowe’s Companies were worth $2,126,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. StoneX Group Inc. acquired a new position in shares of Lowe’s Companies during the 3rd quarter worth approximately $2,713,000. Principal Financial Group Inc. raised its position in Lowe’s Companies by 4.0% during the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after acquiring an additional 24,812 shares during the period. Miracle Mile Advisors LLC raised its position in Lowe’s Companies by 288.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after acquiring an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in 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 purchasing an additional 4,435 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Lowe’s Companies by 308.0% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock valued at $6,988,000 after purchasing an additional 21,375 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 2.6 %

NYSE:LOW opened at $250.32 on Thursday. Lowe’s Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01. The stock’s fifty day moving average is $256.59 and its two-hundred day moving average is $258.39. The company has a market capitalization of $141.34 billion, a P/E ratio of 20.88, a P/E/G ratio of 2.04 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd were given a $1.15 dividend. The ex-dividend date was Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.84%. Lowe’s Companies’s payout ratio is currently 38.37%.

Insiders Place Their Bets

In other news, EVP Quonta D. Vance sold 7,198 shares of the company’s 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 transaction, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LOW shares. Truist Financial upped their price target on shares of Lowe’s Companies from $307.00 to $308.00 and gave the stock a “buy” rating in a research report on Tuesday. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Stifel Nicolaus lifted their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein boosted their price target on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, Mizuho raised their price objective on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $280.88.

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.