Segment Wealth Management LLC Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Segment Wealth Management LLC decreased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 20.9% in the 4th quarter, HoldingsChannel reports. The firm owned 1,566 shares of the home improvement retailer’s stock after selling 415 shares during the quarter. Segment Wealth Management LLC’s holdings in Lowe’s Companies were worth $386,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IFS Advisors LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Lowe’s Companies in the third quarter valued at $27,000. Winch Advisory Services LLC boosted its holdings in Lowe’s Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 44 shares during the period. JNBA Financial Advisors grew its stake in Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, MFA Wealth Advisors LLC raised its position 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 purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LOW. Piper Sandler upped their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. 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 boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Bank of America raised their price target on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

Insiders Place Their Bets

In related news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Stock Performance

LOW stock opened at $264.34 on Wednesday. The stock has a market capitalization of $149.26 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11. The company has a fifty day moving average of $259.83 and a 200-day moving average of $255.23. Lowe’s Companies, Inc. has a one year low of $209.55 and a one year high of $287.01.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

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.