Wedge Capital Management L L P NC Decreases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Wedge Capital Management L L P NC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,310 shares of the home improvement retailer’s stock after selling 338 shares during the period. Wedge Capital Management L L P NC’s holdings in Lowe’s Companies were worth $4,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. StoneX Group Inc. purchased a new stake in Lowe’s Companies in the third quarter worth $2,713,000. Principal Financial Group Inc. lifted its stake in shares of 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 lifted its position in shares of 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 valued at $4,696,000 after buying an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Lowe’s Companies by 1.2% in 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 acquiring an additional 4,435 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted 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 worth $6,988,000 after purchasing an additional 21,375 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $261.39 on Monday. The stock has a market capitalization of $147.59 billion, a P/E ratio of 21.80, a PEG ratio of 2.08 and a beta of 1.11. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The company has a 50 day moving average price of $260.10 and a 200 day moving average price of $254.60.

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 paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is 38.37%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the business’s 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 transaction, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LOW shares. Melius Research began coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price for the company. Mizuho raised their target price on Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Loop Capital raised 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. Finally, Piper Sandler raised their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Company 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.