Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.1% in the fourth quarter, HoldingsChannel reports. The fund owned 56,041 shares of the home improvement retailer’s stock after selling 1,191 shares during the quarter. Wesbanco Bank Inc.’s holdings in Lowe’s Companies were worth $13,831,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in Lowe’s Companies during the third quarter valued at approximately $27,000. IFS Advisors LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $25,000. JNBA Financial Advisors raised its holdings in shares of Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Winch Advisory Services LLC raised its holdings in shares of Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 44 shares during the period. Finally, MFA Wealth Advisors LLC raised its holdings in shares of Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 70 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LOW shares. Wells Fargo & Company boosted their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Piper Sandler boosted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Evercore ISI boosted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. 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 note on Wednesday, November 20th. Finally, Bank of America upped their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $280.85.

Insider Buying and Selling at Lowe’s Companies

In other 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 of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $258.04 on Thursday. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The firm has a fifty day moving average price of $259.72 and a two-hundred day moving average price of $255.58. The company has a market cap of $145.70 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The business also recently declared 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 1.78%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) 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.