Community Trust & Investment Co. Sells 619 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Community Trust & Investment Co. cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,251 shares of the home improvement retailer’s stock after selling 619 shares during the quarter. Community Trust & Investment Co.’s holdings in Lowe’s Companies were worth $13,389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC boosted its position in shares of Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after purchasing an additional 2,399,897 shares in the last quarter. State Street Corp raised its stake in Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after buying an additional 460,851 shares during the period. Geode Capital Management LLC boosted its holdings in Lowe’s Companies by 1.6% in the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after acquiring an additional 187,473 shares in the last quarter. Legal & General Group Plc grew its stake in Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Lowe’s Companies by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after purchasing an additional 39,953 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Performance

Shares of LOW opened at $251.30 on Wednesday. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The business has a 50-day moving average of $260.54 and a 200 day moving average of $253.93. The firm has a market cap of $141.90 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred 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 directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on LOW. Bank of America lifted their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Barclays boosted their target price on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Piper Sandler boosted their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company raised their target price on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Eleven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus target price 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.