Lowe’s Companies, Inc. (NYSE:LOW) is Salem Investment Counselors Inc.’s Largest Position

Salem Investment Counselors Inc. lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 32.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,429,902 shares of the home improvement retailer’s stock after selling 693,967 shares during the quarter. Lowe’s Companies makes up approximately 11.6% of Salem Investment Counselors Inc.’s holdings, making the stock its biggest position. Salem Investment Counselors Inc. owned about 0.25% of Lowe’s Companies worth $352,900,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in Lowe’s Companies in the third quarter worth $27,000. JNBA Financial Advisors lifted its position in shares of Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 100 shares during the last quarter. MFA Wealth Advisors LLC boosted its stake in shares of Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after acquiring an additional 70 shares in the last quarter. Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the 2nd quarter valued at about $37,000. Finally, Kieckhefer Group LLC bought a new position in shares of Lowe’s Companies in the 4th quarter valued at approximately $46,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the 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 transaction, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the topic of several analyst reports. Sanford C. Bernstein increased their price target on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. DA Davidson lifted their target price on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. StockNews.com cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Thursday. Melius Research began coverage on Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective for the company. Finally, TD Cowen raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Eleven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Performance

LOW traded up $0.72 during mid-day trading on Monday, reaching $248.62. The stock had a trading volume of 1,140,822 shares, compared to its average volume of 2,144,133. The stock has a market capitalization of $140.38 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.20 and a beta of 1.11. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01. The firm’s fifty day simple moving average is $261.23 and its two-hundred day simple moving average is $253.51.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.85%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Lowe’s Companies Profile

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.