Covea Finance Reduces Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Covea Finance cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 8.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 204,002 shares of the home improvement retailer’s stock after selling 19,080 shares during the quarter. Lowe’s Companies makes up about 2.3% of Covea Finance’s holdings, making the stock its 12th largest holding. Covea Finance’s holdings in Lowe’s Companies were worth $50,348,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in LOW. Crew Capital Management Ltd. boosted its stake in Lowe’s Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after purchasing an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC raised its holdings in shares of Lowe’s Companies by 2.8% in the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after buying an additional 37 shares during the last quarter. Clean Yield Group lifted its stake in shares of Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after buying an additional 38 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of Lowe’s Companies by 0.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after buying an additional 40 shares during the last quarter. Finally, Chapin Davis Inc. increased its position in shares of Lowe’s Companies by 1.3% in the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after acquiring an additional 41 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.1 %

LOW opened at $251.30 on Wednesday. Lowe’s Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01. The company has a market cap of $141.90 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The company has a 50-day moving average price of $260.54 and a 200 day moving average price of $253.93.

Lowe’s Companies Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.83%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Insider Buying and Selling

In other news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly 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 filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on LOW shares. Barclays lifted their price target on 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. Piper Sandler raised their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. TD Cowen lifted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Sanford C. Bernstein increased their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company boosted their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Eleven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus 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.