Graypoint LLC Lowers Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Graypoint LLC cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,963 shares of the home improvement retailer’s stock after selling 311 shares during the quarter. Graypoint LLC’s holdings in Lowe’s Companies were worth $5,174,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LOW. Legacy Investment Solutions LLC purchased a new stake in Lowe’s Companies during the third quarter worth $27,000. JNBA Financial Advisors boosted its holdings in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. MFA Wealth Advisors LLC grew its position in shares of Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares during the last quarter. Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies during the 2nd quarter worth approximately $37,000. Finally, Tsfg LLC lifted its position in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW traded up $0.89 during midday trading on Friday, reaching $247.78. 2,537,677 shares of the company’s stock traded hands, compared to its average volume of 2,311,329. The company has a market cap of $139.91 billion, a P/E ratio of 20.67, a PEG ratio of 2.20 and a beta of 1.11. The company has a fifty day simple moving average of $261.51 and a two-hundred day simple moving average of $252.88. Lowe’s Companies, Inc. has a 1 year low of $209.55 and a 1 year high of $287.01.

Lowe’s Companies Dividend Announcement

The business 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 $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Wells Fargo & Company increased their price target on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Thursday. Sanford C. Bernstein boosted their target price on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, 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 report on Monday, September 30th. Eleven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $280.85.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of the business’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 directly owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

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.