Fifth Third Bancorp Sells 6,174 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Fifth Third Bancorp trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 315,071 shares of the home improvement retailer’s stock after selling 6,174 shares during the quarter. Fifth Third Bancorp owned approximately 0.06% of Lowe’s Companies worth $77,760,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. FMR LLC grew its holdings in Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after acquiring an additional 2,399,897 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after purchasing an additional 2,027,668 shares in the last quarter. Applied Finance Capital Management LLC grew its stake in shares of Lowe’s Companies by 387.7% during the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after purchasing an additional 645,017 shares during the last quarter. State Street Corp increased its holdings in shares of Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after purchasing an additional 460,851 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Lowe’s Companies by 219.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 458,343 shares of the home improvement retailer’s stock worth $124,142,000 after purchasing an additional 314,861 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of the firm’s 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 transaction, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Price Performance

LOW stock opened at $262.35 on Friday. The stock has a market capitalization of $148.13 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.16 and a beta of 1.11. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The business has a 50-day moving average of $259.25 and a 200-day moving average of $255.64.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.75%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Analyst Ratings Changes

A number of research firms have recently weighed in on LOW. Wells Fargo & Company boosted their target price on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus boosted their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and upped their target price for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Truist Financial lowered their price target on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Evercore ISI increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Company 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.