USA Financial Formulas Has $327,000 Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

USA Financial Formulas trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,324 shares of the home improvement retailer’s stock after selling 105 shares during the quarter. USA Financial Formulas’ holdings in Lowe’s Companies were worth $327,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtu Financial LLC raised its position in Lowe’s Companies by 3.1% during the second quarter. Virtu Financial LLC now owns 3,296 shares of the home improvement retailer’s stock valued at $727,000 after acquiring an additional 99 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Lowe’s Companies by 0.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 118,962 shares of the home improvement retailer’s stock worth $26,202,000 after acquiring an additional 986 shares during the last quarter. Waterloo Capital L.P. grew its stake in shares of Lowe’s Companies by 104.5% in the second quarter. Waterloo Capital L.P. now owns 2,374 shares of the home improvement retailer’s stock worth $523,000 after acquiring an additional 1,213 shares during the last quarter. Marathon Trading Investment Management LLC acquired a new stake in shares of Lowe’s Companies in the second quarter worth $661,000. Finally, MQS Management LLC acquired a new stake in shares of Lowe’s Companies in the second quarter worth $882,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $258.70 on Friday. The stock has a market cap of $146.07 billion, a PE ratio of 21.58, a PEG ratio of 2.08 and a beta of 1.11. The business has a fifty day moving average of $260.44 and a two-hundred day moving average of $253.95. Lowe’s Companies, Inc. has a 52-week low of $209.55 and a 52-week high of $287.01.

Lowe’s Companies Dividend Announcement

The firm 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 $1.15 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.78%. Lowe’s Companies’s dividend payout ratio is 38.37%.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total value 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 SEC, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LOW has been the topic of several research analyst reports. Piper Sandler raised their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Guggenheim restated a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Evercore ISI raised their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Finally, Stifel Nicolaus raised their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target 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.