Confluence Investment Management LLC Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Confluence Investment Management LLC decreased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 3.5% in the 4th quarter, HoldingsChannel reports. The firm owned 232,548 shares of the home improvement retailer’s stock after selling 8,409 shares during the quarter. Confluence Investment Management LLC’s holdings in Lowe’s Companies were worth $57,393,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of Lowe’s Companies in the third quarter worth $27,000. JNBA Financial Advisors boosted its holdings in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the period. MFA Wealth Advisors LLC grew 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 worth $35,000 after purchasing an additional 70 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in Lowe’s Companies during the 2nd quarter worth about $37,000. Finally, Tsfg LLC raised its position in Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.3 %

Shares of NYSE LOW traded up $0.63 during midday trading on Thursday, reaching $247.43. 329,580 shares of the company were exchanged, compared to its average volume of 2,440,164. The stock has a fifty day simple moving average of $263.67 and a 200 day simple moving average of $252.22. The stock has a market cap of $139.71 billion, a P/E ratio of 20.64, a PEG ratio of 2.20 and a beta of 1.09. Lowe’s Companies, Inc. has a 1 year low of $209.55 and a 1 year high of $287.01.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is currently 38.37%.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred 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 sale, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of analyst reports. TD Cowen boosted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Piper Sandler increased their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Melius Research began coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, Mizuho raised their price target on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $280.85.

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.