Essex Financial Services Inc. Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Essex Financial Services Inc. trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,139 shares of the home improvement retailer’s stock after selling 104 shares during the period. Essex Financial Services Inc.’s holdings in Lowe’s Companies were worth $1,515,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sapient Capital LLC increased its position in Lowe’s Companies by 1.7% during the 4th quarter. Sapient Capital LLC now owns 3,989 shares of the home improvement retailer’s stock worth $985,000 after purchasing an additional 66 shares during the period. Pineridge Advisors LLC boosted its stake in shares of Lowe’s Companies by 37.1% in the fourth quarter. Pineridge Advisors LLC now owns 554 shares of the home improvement retailer’s stock valued at $137,000 after buying an additional 150 shares in the last quarter. Arlington Trust Co LLC grew its holdings in Lowe’s Companies by 45.7% during the fourth quarter. Arlington Trust Co LLC now owns 1,059 shares of the home improvement retailer’s stock worth $261,000 after acquiring an additional 332 shares during the period. Equitable Trust Co. raised its position in Lowe’s Companies by 15.2% in the fourth quarter. Equitable Trust Co. now owns 12,731 shares of the home improvement retailer’s stock worth $3,142,000 after acquiring an additional 1,682 shares in the last quarter. Finally, Bristlecone Advisors LLC raised its position in Lowe’s Companies by 20.6% in the fourth quarter. Bristlecone Advisors LLC now owns 1,463 shares of the home improvement retailer’s stock worth $361,000 after acquiring an additional 250 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction of $1,974,915.26. Following the completion of the transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LOW has been the topic of several research analyst reports. Mizuho upped their price target on shares of Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Sanford C. Bernstein boosted their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Evercore ISI increased their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Finally, Barclays upped their price target on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.88.

Lowe’s Companies Stock Performance

Shares of LOW opened at $257.09 on Wednesday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The company has a market capitalization of $145.17 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.04 and a beta of 1.11. The stock has a fifty day moving average of $256.93 and a two-hundred day moving average of $258.26.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd were paid a $1.15 dividend. The ex-dividend date was Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.79%. Lowe’s Companies’s payout ratio is currently 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.