Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by CNB Bank

CNB Bank lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 28.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,404 shares of the home improvement retailer’s stock after selling 955 shares during the quarter. CNB Bank’s holdings in Lowe’s Companies were worth $593,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LOW. Avanza Fonder AB acquired a new stake in Lowe’s Companies during the 4th quarter worth approximately $14,113,000. First Pacific Financial increased its holdings in shares of Lowe’s Companies by 952.4% in the 4th quarter. First Pacific Financial now owns 1,105 shares of the home improvement retailer’s stock valued at $273,000 after acquiring an additional 1,000 shares during the last quarter. Empirical Asset Management LLC raised its holdings in Lowe’s Companies by 4,444.5% during the fourth quarter. Empirical Asset Management LLC now owns 104,614 shares of the home improvement retailer’s stock worth $25,819,000 after purchasing an additional 102,312 shares in the last quarter. Sanders Morris Harris LLC raised its stake in Lowe’s Companies by 31.9% during the 4th quarter. Sanders Morris Harris LLC now owns 8,267 shares of the home improvement retailer’s stock worth $2,044,000 after acquiring an additional 2,000 shares in the last quarter. Finally, IFS Advisors LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter worth about $25,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada upped their target price on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Mizuho increased their price target on Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Guggenheim reissued a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. DA Davidson raised their target price on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Finally, Truist Financial dropped their price target 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. Eleven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $258.95 on Friday. Lowe’s Companies, Inc. has a 1-year low of $209.55 and a 1-year high of $287.01. The company has a market capitalization of $146.22 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 2.08 and a beta of 1.11. The business has a 50-day moving average of $260.44 and a 200-day moving average of $253.95.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is 38.37%.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the transaction, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by 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.