abrdn plc Sells 21,290 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

abrdn plc cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 712,580 shares of the home improvement retailer’s stock after selling 21,290 shares during the quarter. abrdn plc owned 0.13% of Lowe’s Companies worth $175,451,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LOW. Trust Point Inc. increased its holdings in shares of Lowe’s Companies by 1.8% in the 4th quarter. Trust Point Inc. now owns 4,188 shares of the home improvement retailer’s stock worth $1,034,000 after buying an additional 75 shares during the last quarter. Baltimore Washington Financial Advisors Inc. purchased a new stake in Lowe’s Companies during the fourth quarter valued at approximately $202,000. Optas LLC lifted its stake in shares of Lowe’s Companies by 143.8% in the 4th quarter. Optas LLC now owns 3,311 shares of the home improvement retailer’s stock valued at $817,000 after purchasing an additional 1,953 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in shares of Lowe’s Companies by 12.0% in the 4th quarter. Hodges Capital Management Inc. now owns 5,378 shares of the home improvement retailer’s stock worth $1,327,000 after purchasing an additional 577 shares during the period. Finally, Financial Life Planners purchased a new stake in Lowe’s Companies during the 4th quarter valued at $45,000. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LOW. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their target price for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Royal Bank of Canada boosted their target price on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Wells Fargo & Company increased their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Truist Financial dropped their price objective on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Down 1.3 %

Lowe’s Companies stock opened at $256.73 on Tuesday. The stock has a 50-day moving average price of $259.00 and a 200 day moving average price of $257.46. The company has a market capitalization of $144.96 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.11. Lowe’s Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.79%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the company’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 value of $1,974,915.26. Following the sale, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by 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.