Salem Investment Counselors Inc. Has $352.90 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Salem Investment Counselors Inc. cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 32.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,429,902 shares of the home improvement retailer’s stock after selling 693,967 shares during the period. Lowe’s Companies makes up approximately 11.6% of Salem Investment Counselors Inc.’s investment portfolio, making the stock its largest holding. Salem Investment Counselors Inc.’s holdings in Lowe’s Companies were worth $352,900,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in Lowe’s Companies during the 3rd quarter worth about $27,000. JNBA Financial Advisors grew its holdings in shares of Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 100 shares in the last quarter. MFA Wealth Advisors LLC lifted its stake in 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 acquiring an additional 70 shares in the last quarter. Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies during the 2nd quarter worth approximately $37,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $46,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LOW shares. StockNews.com lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Thursday. Sanford C. Bernstein upped their target price on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. DA Davidson boosted their price target on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Barclays raised their target price on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus increased their price target on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Eleven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Price Performance

NYSE:LOW traded up $0.72 during trading hours on Monday, hitting $248.62. The company’s stock had a trading volume of 1,140,822 shares, compared to its average volume of 2,144,133. Lowe’s Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01. The stock has a fifty day simple moving average of $261.23 and a 200-day simple moving average of $253.51. The company has a market capitalization of $140.38 billion, a P/E ratio of 20.74, a PEG ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors 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 yield of 1.85%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is 38.37%.

Insider Activity at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction on 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 directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

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.