Confluence Investment Management LLC Trims Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Confluence Investment Management LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 232,548 shares of the home improvement retailer’s stock after selling 8,409 shares during the period. Confluence Investment Management LLC’s holdings in Lowe’s Companies were worth $57,393,000 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. Verus Capital Partners LLC lifted its holdings in Lowe’s Companies by 65.8% in the second quarter. Verus Capital Partners LLC now owns 1,336 shares of the home improvement retailer’s stock valued at $295,000 after acquiring an additional 530 shares during the period. Naviter Wealth LLC boosted its holdings in Lowe’s Companies by 9.8% during the second quarter. Naviter Wealth LLC now owns 6,829 shares of the home improvement retailer’s stock worth $1,506,000 after buying an additional 612 shares in the last quarter. Weaver Capital Management LLC acquired a new stake in Lowe’s Companies during the second quarter valued at $615,000. Foundations Investment Advisors LLC increased its holdings in Lowe’s Companies by 18.5% in the second quarter. Foundations Investment Advisors LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $1,434,000 after buying an additional 1,018 shares in the last quarter. Finally, Markel Group Inc. raised its position in shares of Lowe’s Companies by 1.9% in the second quarter. Markel Group Inc. now owns 675,980 shares of the home improvement retailer’s stock worth $149,027,000 after acquiring an additional 12,500 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies 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 completion of the sale, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on LOW. Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Stifel Nicolaus boosted their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. DA Davidson increased their target price on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Finally, Royal Bank of Canada increased their price objective on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Price Performance

LOW traded up $0.63 during trading hours on Thursday, reaching $247.43. The company’s stock had a trading volume of 329,580 shares, compared to its average volume of 2,440,164. The stock has a market cap of $139.71 billion, a PE ratio of 20.64, a P/E/G ratio of 2.20 and a beta of 1.09. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The business’s 50-day moving average is $263.67 and its 200-day moving average is $252.22.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

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.