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

abrdn plc decreased its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 712,580 shares of the home improvement retailer's stock after selling 21,290 shares during the period. abrdn plc owned approximately 0.13% of Lowe's Companies worth $175,451,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. FMR LLC increased its stake in 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 purchasing an additional 2,399,897 shares in the last quarter. State Street Corp grew its holdings in shares of Lowe's Companies by 1.9% in 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 during the period. Geode Capital Management LLC increased its position in shares of Lowe's Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer's stock valued at $3,169,041,000 after buying an additional 187,473 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Lowe's Companies by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer's stock worth $912,508,000 after buying an additional 39,953 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its holdings in Lowe's Companies by 1.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer's stock worth $634,700,000 after acquiring an additional 36,054 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Performance

LOW traded up $1.05 on Wednesday, reaching $258.28. The company had a trading volume of 1,693,226 shares, compared to its average volume of 2,187,792. The company's fifty day moving average is $258.29 and its 200 day moving average is $257.71. The stock has a market cap of $145.84 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.18 and a beta of 1.11. Lowe's Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01.

Lowe's Companies Dividend Announcement

The company also recently declared 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 of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.78%. Lowe's Companies's payout ratio is currently 38.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial dropped their price objective 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. Bank of America boosted their price target on Lowe's Companies from $275.00 to $305.00 and gave the company a "buy" rating in a report on Friday, October 11th. Stifel Nicolaus increased their price objective on Lowe's Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th. Barclays boosted their target price on Lowe's Companies from $229.00 to $245.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 20th. Finally, Loop Capital raised shares of Lowe's Companies from a "hold" rating to a "buy" rating and raised their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and an average price target of $280.85.

Insider Activity at Lowe's Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe's Companies stock in a transaction on Wednesday, November 27th. The stock was 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 trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate 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.