Mirae Asset Global Investments Co. Ltd. Reduces Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 60,467 shares of the home improvement retailer’s stock after selling 1,216 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Lowe’s Companies were worth $14,995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Lowe’s Companies in the 3rd quarter valued at approximately $27,000. IFS Advisors LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter worth about $25,000. JNBA Financial Advisors grew its holdings in Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Winch Advisory Services LLC increased its position in shares of Lowe’s Companies by 56.4% in the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. Finally, MFA Wealth Advisors LLC raised its holdings in shares of Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $256.08 on Friday. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The stock has a fifty day moving average price of $257.99 and a two-hundred day moving average price of $257.71. The stock has a market capitalization of $144.59 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 2.18 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the transaction, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on LOW shares. Truist Financial lowered their target price on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Guggenheim reiterated a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. TD Cowen upped their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company raised their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average target price of $280.85.

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.