Lowe’s Companies, Inc. (NYSE:LOW) Stake Lowered by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,072 shares of the home improvement retailer’s stock after selling 1,005 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Lowe’s Companies were worth $50,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of LOW. Crew Capital Management Ltd. grew its holdings in Lowe’s Companies by 1.0% during the 3rd 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 period. Summit Place Financial Advisors LLC boosted its position in shares of Lowe’s Companies by 2.8% in 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 last quarter. Clean Yield Group boosted its position in shares of Lowe’s Companies by 2.4% in 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 last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of Lowe’s Companies by 0.5% during the third 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 period. Finally, Chapin Davis Inc. increased its holdings in Lowe’s Companies by 1.3% in the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after purchasing an additional 41 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction on 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 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 through this hyperlink. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on LOW shares. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. TD Cowen lifted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Truist Financial lowered their target price on shares of 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. Wells Fargo & Company lifted their price target 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. Finally, DA Davidson upped their price objective on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Eleven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded up $1.23 during midday trading on Thursday, reaching $257.95. 88,712 shares of the company’s stock were exchanged, compared to its average volume of 2,157,533. The stock’s 50-day simple moving average is $260.54 and its 200 day simple moving average is $253.93. The firm has a market cap of $145.65 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 2.08 and a beta of 1.11. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued 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 is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is presently 38.37%.

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.