Shulman DeMeo Asset Management LLC Reduces Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Shulman DeMeo Asset Management LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 17.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,779 shares of the home improvement retailer’s stock after selling 387 shares during the period. Shulman DeMeo Asset Management LLC’s holdings in Lowe’s Companies were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. StoneX Group Inc. purchased a new position in Lowe’s Companies in the third quarter valued at $2,713,000. Principal Financial Group Inc. grew its position in shares of Lowe’s Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after purchasing an additional 24,812 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Lowe’s Companies by 288.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after acquiring an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Lowe’s Companies by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after purchasing an additional 4,435 shares during the last quarter. Finally, HM Payson & Co. raised its holdings in shares of Lowe’s Companies by 1.1% in the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after buying an additional 2,322 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Up 0.8 %

Shares of Lowe’s Companies stock opened at $258.70 on Friday. The stock has a market capitalization of $146.07 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. Lowe’s Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01. The company has a 50-day simple moving average of $260.44 and a two-hundred day simple moving average of $253.95.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given 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 dividend yield of 1.78%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Transactions at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction dated 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 represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LOW shares. Evercore ISI increased their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research note on Thursday, December 12th. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. StockNews.com cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Melius Research began coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective on the stock. Finally, Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

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.