Brady Family Wealth LLC Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

Brady Family Wealth LLC cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,537 shares of the home improvement retailer’s stock after selling 1,047 shares during the period. Lowe’s Companies comprises 3.1% of Brady Family Wealth LLC’s portfolio, making the stock its 5th biggest position. Brady Family Wealth LLC’s holdings in Lowe’s Companies were worth $10,251,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Crew Capital Management Ltd. lifted its stake in Lowe’s Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after buying an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC raised its holdings in shares of Lowe’s Companies by 2.8% during the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after acquiring an additional 37 shares during the last quarter. Clean Yield Group lifted its position in shares of Lowe’s Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after acquiring an additional 38 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Lowe’s Companies by 0.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after acquiring an additional 40 shares in the last quarter. Finally, Chapin Davis Inc. boosted its stake in shares of Lowe’s Companies by 1.3% in the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after acquiring an additional 41 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $256.73 on Thursday. The firm has a market capitalization of $144.96 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. Lowe’s Companies, Inc. has a 1 year low of $209.55 and a 1 year high of $287.01. The firm’s 50-day moving average is $260.54 and its two-hundred day moving average is $253.93.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Activity

In related news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the sale, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LOW. Wedbush restated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Evercore ISI increased their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Barclays boosted their price target on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Royal Bank of Canada upped 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 research note on Thursday, December 12th. Finally, TD Cowen raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.