Argent Capital Management LLC Decreases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Argent Capital Management LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 21.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,052 shares of the home improvement retailer’s stock after selling 288 shares during the quarter. Argent Capital Management LLC’s holdings in Lowe’s Companies were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LOW. Virtu Financial LLC lifted its stake in shares of Lowe’s Companies by 3.1% during the second quarter. Virtu Financial LLC now owns 3,296 shares of the home improvement retailer’s stock worth $727,000 after buying an additional 99 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Lowe’s Companies by 0.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 118,962 shares of the home improvement retailer’s stock worth $26,202,000 after acquiring an additional 986 shares during the last quarter. Waterloo Capital L.P. lifted its position in Lowe’s Companies by 104.5% during the 2nd quarter. Waterloo Capital L.P. now owns 2,374 shares of the home improvement retailer’s stock worth $523,000 after acquiring an additional 1,213 shares during the period. Marathon Trading Investment Management LLC purchased a new stake in Lowe’s Companies during the 2nd quarter valued at about $661,000. Finally, MQS Management LLC acquired a new position in shares of Lowe’s Companies in the second quarter valued at about $882,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 0.8 %

NYSE:LOW opened at $258.70 on Friday. The stock has a 50 day moving average of $260.44 and a two-hundred day moving average of $253.95. Lowe’s Companies, Inc. has a 12 month low of $209.55 and a 12 month high of $287.01. The firm has a market cap of $146.07 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.78%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LOW shares. Bank of America lifted their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Barclays increased their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. DA Davidson boosted their target price on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Finally, Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Eleven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

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 dated 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.