Money Concepts Capital Corp Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

Money Concepts Capital Corp reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,919 shares of the home improvement retailer’s stock after selling 117 shares during the quarter. Money Concepts Capital Corp’s holdings in Lowe’s Companies were worth $474,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Confluence Wealth Services Inc. grew its stake in Lowe’s Companies by 7.6% in the 4th quarter. Confluence Wealth Services Inc. now owns 4,258 shares of the home improvement retailer’s stock valued at $1,113,000 after purchasing an additional 299 shares during the period. Hager Investment Management Services LLC bought a new position in Lowe’s Companies in the 4th quarter valued at $1,365,000. Retirement Systems of Alabama grew its stake in Lowe’s Companies by 143.7% in the 4th quarter. Retirement Systems of Alabama now owns 301,891 shares of the home improvement retailer’s stock valued at $74,507,000 after purchasing an additional 178,016 shares during the period. Welch Group LLC bought a new position in Lowe’s Companies in the 4th quarter valued at $239,000. Finally, Commonwealth Financial Services LLC grew its stake in Lowe’s Companies by 20.9% in the 4th quarter. Commonwealth Financial Services LLC now owns 2,408 shares of the home improvement retailer’s stock valued at $594,000 after purchasing an additional 416 shares during the period. Institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the business’s 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 directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Mizuho upped their price objective on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. 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. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Bank of America increased their price target on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company increased their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Stock Down 0.9 %

NYSE:LOW opened at $256.08 on Friday. The business’s 50-day moving average price is $257.99 and its two-hundred day moving average price is $257.71. Lowe’s Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01. The stock has a market cap of $144.59 billion, a P/E ratio of 21.36, a PEG ratio of 2.18 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd were issued a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.80%. Lowe’s Companies’s payout ratio is currently 38.37%.

Lowe’s Companies 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.