Clear Harbor Asset Management LLC Cuts Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Clear Harbor Asset Management LLC lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,485 shares of the home improvement retailer’s stock after selling 437 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Lowe’s Companies were worth $1,600,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LOW. FMR LLC raised its stake in Lowe’s Companies by 10.2% in the 3rd 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. International Assets Investment Management LLC raised its position in shares of Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after buying an additional 2,027,668 shares during the last quarter. Applied Finance Capital Management LLC lifted its stake in shares of Lowe’s Companies by 387.7% in the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after buying an additional 645,017 shares in the last quarter. Marshall Wace LLP boosted its position in Lowe’s Companies by 170.5% during the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after acquiring an additional 463,645 shares during the last quarter. Finally, State Street Corp grew its stake in Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after acquiring an additional 460,851 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling

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 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 in the company, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LOW shares. Truist Financial dropped their price target on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Melius Research assumed coverage on Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price for the company. Bank of America raised their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Mizuho increased their target price on shares of Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Up 1.0 %

Shares of LOW opened at $261.39 on Tuesday. Lowe’s Companies, Inc. has a 52-week low of $209.55 and a 52-week high of $287.01. The stock has a 50 day moving average price of $260.10 and a 200 day moving average price of $254.89. The company has a market capitalization of $147.59 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is 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.