Cohen Klingenstein LLC Trims Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Cohen Klingenstein LLC reduced its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 45.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,950 shares of the home improvement retailer's stock after selling 10,100 shares during the quarter. Cohen Klingenstein LLC's holdings in Lowe's Companies were worth $2,949,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. IFS Advisors LLC bought a new position in Lowe's Companies in the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Lowe's Companies during the third quarter valued at $27,000. Winch Advisory Services LLC boosted its position in shares of Lowe's Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer's stock valued at $30,000 after buying an additional 44 shares during the last quarter. JNBA Financial Advisors increased its holdings in Lowe's Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer's stock worth $32,000 after buying an additional 100 shares in the last quarter. Finally, MFA Wealth Advisors LLC raised its position in 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 worth $35,000 after buying an additional 70 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lowe's Companies news, EVP Quonta D. Vance sold 7,198 shares of Lowe's Companies stock in a transaction 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 transaction, the executive vice president now directly owns 16,703 shares of the company's stock, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

Lowe's Companies Stock Performance

LOW stock traded up $2.61 during trading on Friday, hitting $261.39. 2,758,504 shares of the company's stock traded hands, compared to its average volume of 1,989,226. Lowe's Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01. The stock has a market capitalization of $147.59 billion, a price-to-earnings ratio of 21.80, a P/E/G ratio of 2.08 and a beta of 1.11. The business has a fifty day simple moving average of $260.10 and a 200 day simple moving average of $254.60.

Lowe's Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.76%. Lowe's Companies's dividend payout ratio is currently 38.37%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LOW shares. DA Davidson raised their price target on shares of Lowe's Companies from $240.00 to $270.00 and gave the company a "neutral" rating in a report on Wednesday, November 20th. Wells Fargo & Company lifted their target price on shares of Lowe's Companies from $280.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Royal Bank of Canada raised 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. Truist Financial lowered their target price on Lowe's Companies from $310.00 to $307.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Finally, StockNews.com raised Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Friday. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Lowe's Companies currently has a consensus rating of "Moderate Buy" and an average price target of $280.85.

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.