Claro Advisors LLC Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

Claro Advisors LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,241 shares of the home improvement retailer’s stock after selling 116 shares during the quarter. Claro Advisors LLC’s holdings in Lowe’s Companies were worth $553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Forza Wealth Management LLC grew its holdings in shares of Lowe’s Companies by 13.0% during the 4th quarter. Forza Wealth Management LLC now owns 3,702 shares of the home improvement retailer’s stock worth $914,000 after purchasing an additional 426 shares during the period. Accelerate Investment Advisors LLC purchased a new position in shares of Lowe’s Companies during the 4th quarter worth $225,000. Cooper Financial Group grew its holdings in shares of Lowe’s Companies by 20.0% during the 4th quarter. Cooper Financial Group now owns 1,511 shares of the home improvement retailer’s stock worth $373,000 after purchasing an additional 252 shares during the period. Wedmont Private Capital grew its holdings in shares of Lowe’s Companies by 25.8% during the 4th quarter. Wedmont Private Capital now owns 8,259 shares of the home improvement retailer’s stock worth $2,047,000 after purchasing an additional 1,693 shares during the period. Finally, Kieckhefer Group LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at about $46,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of research analyst reports. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their target price for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Guggenheim restated a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and raised their target price for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Stifel Nicolaus raised their target price on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Finally, Piper Sandler raised their target price on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Eleven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $248.64 on Tuesday. The stock’s 50-day simple moving average is $260.90 and its 200-day simple moving average is $253.71. The firm has a market capitalization of $140.39 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.20 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.

Lowe’s Companies Dividend Announcement

The company also recently declared 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. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.85%. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Insider Buying and Selling

In related news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following 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 filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by company 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.