RNC Capital Management LLC Reduces Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

RNC Capital Management LLC reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,998 shares of the home improvement retailer’s stock after selling 123 shares during the period. RNC Capital Management LLC’s holdings in Lowe’s Companies were worth $3,455,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. StoneX Group Inc. purchased a new position in Lowe’s Companies during the 3rd quarter valued at about $2,713,000. Principal Financial Group Inc. increased its holdings in Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after acquiring an additional 24,812 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in 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 valued at $4,696,000 after acquiring an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lowe’s Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after purchasing an additional 4,435 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of Lowe’s Companies by 308.0% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock worth $6,988,000 after purchasing an additional 21,375 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company raised their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada raised their price target on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Stifel Nicolaus raised their target price on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Evercore ISI raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Trading Down 0.9 %

Shares of NYSE:LOW opened at $256.08 on Friday. The company has a fifty day simple moving average of $257.99 and a 200 day simple moving average of $257.71. The firm has a market cap of $144.59 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.18 and a beta of 1.11. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd were paid a $1.15 dividend. The ex-dividend date was Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.80%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Insider Buying and Selling

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

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.