Smart Money Group LLC Acquires 146 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Smart Money Group LLC boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,886 shares of the home improvement retailer’s stock after acquiring an additional 146 shares during the quarter. Smart Money Group LLC’s holdings in Lowe’s Companies were worth $712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. StoneX Group Inc. bought a new position in shares of Lowe’s Companies in the third quarter worth about $2,713,000. Principal Financial Group Inc. grew its stake in Lowe’s Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after acquiring an additional 24,812 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Lowe’s Companies by 288.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after acquiring an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Lowe’s Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after acquiring an additional 4,435 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of Lowe’s Companies by 308.0% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock valued at $6,988,000 after acquiring an additional 21,375 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.0 %

Shares of Lowe’s Companies stock opened at $261.39 on Monday. The firm has a market cap of $147.59 billion, a PE ratio of 21.80, a P/E/G ratio of 2.08 and a beta of 1.11. Lowe’s Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01. The business has a 50-day moving average price of $260.10 and a 200 day moving average price of $254.60.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada raised their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Truist Financial decreased their price objective on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Piper Sandler boosted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price objective for the company 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 assigned a buy rating to the company. According to MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Insider Transactions 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 sale, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.