Cullen Investment Group LTD. Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Cullen Investment Group LTD. cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,503 shares of the home improvement retailer’s stock after selling 432 shares during the period. Lowe’s Companies makes up 1.0% of Cullen Investment Group LTD.’s holdings, making the stock its 26th biggest holding. Cullen Investment Group LTD.’s holdings in Lowe’s Companies were worth $6,541,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LOW. Legacy Investment Solutions LLC acquired a new position in shares of Lowe’s Companies during the 3rd quarter worth $27,000. JNBA Financial Advisors raised its position in 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 acquiring an additional 100 shares in the last quarter. MFA Wealth Advisors LLC increased its holdings 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 valued at $35,000 after purchasing an additional 70 shares during the period. Kimelman & Baird LLC bought a new stake in Lowe’s Companies during the second quarter worth approximately $37,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter valued at $46,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Lowe’s Companies Stock Up 0.3 %

NYSE LOW opened at $248.64 on Tuesday. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01. The firm has a market cap of $140.39 billion, a PE ratio of 20.74, 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 $260.90 and a 200 day moving average price of $253.71.

Lowe’s Companies Dividend Announcement

The business 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. This represents a $4.60 annualized dividend and a yield of 1.85%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is 38.37%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LOW. Barclays lifted their target price on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Truist Financial lowered their target price on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Evercore ISI lifted their price target 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. Finally, Bank of America raised their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Eleven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.