Shulman DeMeo Asset Management LLC Sells 387 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Shulman DeMeo Asset Management LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 17.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,779 shares of the home improvement retailer’s stock after selling 387 shares during the period. Shulman DeMeo Asset Management LLC’s holdings in Lowe’s Companies were worth $439,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sanders Morris Harris LLC raised its position in shares of Lowe’s Companies by 31.9% in the fourth quarter. Sanders Morris Harris LLC now owns 8,267 shares of the home improvement retailer’s stock worth $2,044,000 after buying an additional 2,000 shares in the last quarter. IFS Advisors LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at approximately $25,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Lowe’s Companies by 4.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 4,339 shares of the home improvement retailer’s stock worth $1,071,000 after purchasing an additional 167 shares during the period. Mason & Associates Inc boosted its holdings in Lowe’s Companies by 6.5% in the fourth quarter. Mason & Associates Inc now owns 1,006 shares of the home improvement retailer’s stock valued at $248,000 after acquiring an additional 61 shares in the last quarter. Finally, Foresight Capital Management Advisors Inc. bought a new position in Lowe’s Companies in the fourth quarter worth about $305,000. 74.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LOW shares. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Mizuho lifted their price objective on Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Loop Capital raised 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 report on Wednesday, October 9th. Piper Sandler lifted their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus increased their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Eleven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Price Performance

Shares of LOW opened at $258.70 on Friday. The firm has a 50 day simple moving average of $260.44 and a 200-day simple moving average of $253.95. The stock has a market cap of $146.07 billion, a price-to-earnings ratio of 21.58, 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.

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 paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Buying and Selling

In other Lowe’s Companies 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 transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company 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.