Fortitude Advisory Group L.L.C. Decreases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Fortitude Advisory Group L.L.C. trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,470 shares of the home improvement retailer’s stock after selling 117 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Lowe’s Companies were worth $363,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC increased its position in Lowe’s Companies by 37.6% during the second quarter. AQR Capital Management LLC now owns 80,500 shares of the home improvement retailer’s stock worth $17,664,000 after buying an additional 21,995 shares during the period. SkyView Investment Advisors LLC increased its holdings in shares of Lowe’s Companies by 10.2% in the 2nd quarter. SkyView Investment Advisors LLC now owns 1,979 shares of the home improvement retailer’s stock valued at $436,000 after acquiring an additional 183 shares during the period. Ascent Group LLC boosted its stake in Lowe’s Companies by 12.0% during the 2nd quarter. Ascent Group LLC now owns 4,028 shares of the home improvement retailer’s stock worth $888,000 after purchasing an additional 432 shares during the period. Creative Planning grew its position in Lowe’s Companies by 1.3% during the 2nd quarter. Creative Planning now owns 204,435 shares of the home improvement retailer’s stock worth $45,070,000 after purchasing an additional 2,585 shares during the last quarter. Finally, Magnolia Capital Advisors LLC acquired a new position in Lowe’s Companies in the second quarter valued at $394,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity

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.

Lowe’s Companies Stock Up 2.3 %

NYSE:LOW opened at $268.34 on Tuesday. The company has a market cap of $151.52 billion, a P/E ratio of 22.38, a P/E/G ratio of 2.16 and a beta of 1.11. The firm’s 50 day moving average is $259.11 and its two-hundred day moving average is $256.48. Lowe’s Companies, Inc. has a fifty-two week low of $209.81 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. Shareholders of record on Wednesday, January 22nd will be paid 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 1.71%. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. DA Davidson boosted their price objective on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Stifel Nicolaus raised their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. TD Cowen lifted their price objective 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, Mizuho raised their price target on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies presently has an average 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.