Cornerstone Wealth Management LLC Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

Cornerstone Wealth Management LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,307 shares of the home improvement retailer’s stock after selling 162 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Lowe’s Companies were worth $5,505,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC raised its position in 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 buying an additional 2,399,897 shares during the last quarter. State Street Corp increased its holdings in shares of 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 valued at $6,774,948,000 after purchasing an additional 460,851 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Lowe’s Companies by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after purchasing an additional 187,473 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Lowe’s Companies by 1.6% during the 2nd 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 purchasing an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Lowe’s Companies by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock valued at $912,508,000 after purchasing an additional 39,953 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LOW. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Royal Bank of Canada lifted their target price on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Wells Fargo & Company lifted 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. Mizuho lifted their target price on shares of Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, Barclays lifted 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 note on Wednesday, November 20th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Price Performance

NYSE:LOW opened at $261.16 on Friday. Lowe’s Companies, Inc. has a 1-year low of $209.55 and a 1-year high of $287.01. The firm’s fifty day moving average price is $259.44 and its 200 day moving average price is $255.60. The firm has a market cap of $147.47 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders 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 yield of 1.76%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the firm’s 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 sale, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate 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.