Beacon Investment Advisory Services Inc. Sells 1,153 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Beacon Investment Advisory Services Inc. cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,186 shares of the home improvement retailer’s stock after selling 1,153 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Lowe’s Companies were worth $3,008,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in LOW. Crew Capital Management Ltd. increased its stake in Lowe’s Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after acquiring an additional 37 shares during the last quarter. Summit Place Financial Advisors LLC grew its holdings in shares of Lowe’s Companies by 2.8% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after purchasing an additional 37 shares during the period. Clean Yield Group grew its holdings in shares of Lowe’s Companies by 2.4% during the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after purchasing an additional 38 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of Lowe’s Companies by 0.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after purchasing an additional 40 shares during the last quarter. Finally, Chapin Davis Inc. raised its holdings in Lowe’s Companies by 1.3% in the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 2.4 %

LOW stock opened at $258.04 on Thursday. The firm has a 50 day moving average of $259.44 and a 200-day moving average of $255.60. The company has a market cap of $145.70 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 2.22 and a beta of 1.11. Lowe’s Companies, Inc. has a 12-month low of $209.55 and a 12-month high of $287.01.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.78%. Lowe’s Companies’s payout ratio is 38.37%.

Insiders Place Their Bets

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 shares were sold at an average price of $274.37, for a total transaction 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 trade represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler increased 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. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their target price on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Barclays raised their price target on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $280.85.

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.