Castle Wealth Management LLC Has $1.25 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Castle Wealth Management LLC reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,045 shares of the home improvement retailer’s stock after selling 271 shares during the quarter. Castle Wealth Management LLC’s holdings in Lowe’s Companies were worth $1,245,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC grew its position in shares of Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the last quarter. State Street Corp lifted its stake in shares of Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after buying an additional 460,851 shares during the period. Geode Capital Management LLC lifted its stake in shares of Lowe’s Companies by 1.6% in the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after buying an additional 187,473 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lowe’s Companies by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock valued at $912,508,000 after buying an additional 39,953 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its stake in shares of Lowe’s Companies by 1.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock valued at $634,700,000 after buying an additional 36,054 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Down 2.6 %

NYSE:LOW opened at $250.32 on Thursday. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The firm has a 50 day moving average of $256.59 and a 200-day moving average of $258.39. The stock has a market capitalization of $141.34 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 2.04 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LOW. Truist Financial increased their target price on shares of Lowe’s Companies from $307.00 to $308.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada increased their target price on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Stifel Nicolaus increased their target price on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Evercore ISI increased their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research note on Thursday, December 12th. Finally, Mizuho increased their target price on shares of Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $280.88.

Insider Activity

In related news, EVP Quonta D. Vance sold 7,198 shares of the firm’s 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 completion of the sale, the executive vice president now owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.