Westbourne Investment Advisors Inc. Reduces Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Westbourne Investment Advisors Inc. lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,613 shares of the home improvement retailer’s stock after selling 122 shares during the quarter. Westbourne Investment Advisors Inc.’s holdings in Lowe’s Companies were worth $1,879,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LOW. StoneX Group Inc. acquired a new position in Lowe’s Companies in the third quarter valued at $2,713,000. Principal Financial Group Inc. boosted its position in shares of Lowe’s Companies by 4.0% in 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 purchasing an additional 24,812 shares during the period. Miracle Mile Advisors LLC grew its stake 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 worth $4,696,000 after buying an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Lowe’s Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after buying an additional 4,435 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its stake in Lowe’s Companies by 308.0% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock valued at $6,988,000 after buying an additional 21,375 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies Stock Performance

LOW opened at $252.17 on Friday. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The company has a market cap of $142.39 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.04 and a beta of 1.11. The business’s fifty day moving average is $257.65 and its two-hundred day moving average is $257.70.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed 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 of this dividend was Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.82%. Lowe’s Companies’s payout ratio is 38.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LOW shares. 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. Wells Fargo & Company raised their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Bank of America upped their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Mizuho boosted their price target on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, Truist Financial reduced their price objective on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies presently 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.