Exchange Traded Concepts LLC Trims Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Exchange Traded Concepts LLC lessened its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,651 shares of the home improvement retailer’s stock after selling 217 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Lowe’s Companies were worth $407,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. IFS Advisors LLC acquired a new position in Lowe’s Companies in the fourth quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Lowe’s Companies during the third quarter worth about $27,000. Winch Advisory Services LLC increased its position in Lowe’s Companies by 56.4% in the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 44 shares during the period. JNBA Financial Advisors increased its position in Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Finally, MFA Wealth Advisors LLC raised its stake in Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction on Wednesday, November 27th. The stock was 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. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Trading Up 0.9 %

Shares of NYSE:LOW opened at $264.12 on Friday. The firm’s 50 day moving average is $259.13 and its two-hundred day moving average is $257.00. The firm has a market capitalization of $149.13 billion, a P/E ratio of 22.03, a PEG ratio of 2.16 and a beta of 1.11. Lowe’s Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01.

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. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.74%. Lowe’s Companies’s payout ratio is 38.37%.

Analyst Upgrades and Downgrades

Several analysts have recently 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. Mizuho raised their price objective on shares of Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Evercore ISI lifted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Truist Financial cut their target price on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Royal Bank of Canada lifted their price target on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.