CCM Investment Advisers LLC Trims Stake in Lowe’s Companies, Inc. (NYSE:LOW)

CCM Investment Advisers LLC lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,665 shares of the home improvement retailer’s stock after selling 68 shares during the period. CCM Investment Advisers LLC’s holdings in Lowe’s Companies were worth $658,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. FMR LLC grew its position 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 acquiring an additional 2,399,897 shares during the last quarter. International Assets Investment Management LLC grew its holdings 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 worth $578,256,000 after purchasing an additional 2,027,668 shares during the last quarter. Applied Finance Capital Management LLC increased its stake in Lowe’s Companies by 387.7% in the 3rd 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 during the period. Marshall Wace LLP increased its stake in Lowe’s Companies by 170.5% in the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after buying an additional 463,645 shares during the period. Finally, State Street Corp lifted its holdings 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 buying an additional 460,851 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was 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 directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies Price Performance

NYSE:LOW traded up $1.88 during midday trading on Friday, hitting $248.77. The company’s stock had a trading volume of 998,953 shares, compared to its average volume of 2,048,764. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The firm’s 50 day moving average is $261.51 and its 200-day moving average is $252.88. The firm has a market cap of $140.47 billion, a P/E ratio of 20.75, a P/E/G ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.85%. Lowe’s Companies’s payout ratio is currently 38.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LOW shares. Evercore ISI raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Melius Research assumed coverage on Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Truist Financial dropped their target price on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Eleven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.