Hartford Investment Management Co. Cuts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Hartford Investment Management Co. lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,058 shares of the home improvement retailer’s stock after selling 788 shares during the quarter. Hartford Investment Management Co.’s holdings in Lowe’s Companies were worth $8,652,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Gladstone Institutional Advisory LLC boosted its stake in shares of Lowe’s Companies by 16.5% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,779 shares of the home improvement retailer’s stock worth $1,179,000 after acquiring an additional 676 shares in the last quarter. Community Financial Services Group LLC raised its holdings in Lowe’s Companies by 5.3% during the fourth quarter. Community Financial Services Group LLC now owns 19,025 shares of the home improvement retailer’s stock worth $4,695,000 after purchasing an additional 950 shares during the last quarter. Schear Investment Advisers LLC raised its holdings in Lowe’s Companies by 15.0% during the fourth quarter. Schear Investment Advisers LLC now owns 1,248 shares of the home improvement retailer’s stock worth $308,000 after purchasing an additional 163 shares during the last quarter. Leavell Investment Management Inc. boosted its position in Lowe’s Companies by 1.4% during the fourth quarter. Leavell Investment Management Inc. now owns 19,870 shares of the home improvement retailer’s stock worth $4,904,000 after purchasing an additional 265 shares in the last quarter. Finally, Augustine Asset Management Inc. grew its holdings in Lowe’s Companies by 76.3% in the fourth quarter. Augustine Asset Management Inc. now owns 6,870 shares of the home improvement retailer’s stock valued at $1,696,000 after purchasing an additional 2,974 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $257.09 on Wednesday. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The firm has a 50 day moving average price of $256.93 and a 200 day moving average price of $258.26. The company has a market cap of $145.17 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.04 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Insider Buying and Selling

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 16,703 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LOW shares. Royal Bank of Canada lifted their price target on Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Mizuho upped their price target on shares of Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Guggenheim restated a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $280.88.

Lowe’s Companies Company 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.