Verus Financial Partners Inc. Sells 369 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Verus Financial Partners Inc. lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,466 shares of the home improvement retailer’s stock after selling 369 shares during the quarter. Verus Financial Partners Inc.’s holdings in Lowe’s Companies were worth $859,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FMR LLC increased its stake 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 buying an additional 2,399,897 shares during the period. International Assets Investment Management LLC boosted its holdings in 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 acquiring an additional 2,027,668 shares during the last quarter. Applied Finance Capital Management LLC increased its position in Lowe’s Companies by 387.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after purchasing an additional 645,017 shares during the period. State Street Corp raised 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 worth $6,774,948,000 after purchasing an additional 460,851 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Lowe’s Companies by 219.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 458,343 shares of the home improvement retailer’s stock worth $124,142,000 after purchasing an additional 314,861 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $259.91 on Friday. The company has a market capitalization of $146.76 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The business has a fifty day moving average price of $259.00 and a two-hundred day moving average price of $257.24.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LOW. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Sanford C. Bernstein lifted their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Wells Fargo & Company boosted their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Evercore ISI boosted their price target on 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. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Insiders Place Their Bets

In other 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

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.