Lowe’s Companies, Inc. (NYSE:LOW) Stock Holdings Lifted by NovaPoint Capital LLC

NovaPoint Capital LLC lifted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,427 shares of the home improvement retailer’s stock after acquiring an additional 289 shares during the period. NovaPoint Capital LLC’s holdings in Lowe’s Companies were worth $1,092,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. StoneX Group Inc. purchased a new position in Lowe’s Companies during the third quarter valued at approximately $2,713,000. Principal Financial Group Inc. lifted its stake in Lowe’s Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after acquiring an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in Lowe’s Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after acquiring an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Lowe’s Companies by 1.2% in 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 during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in Lowe’s Companies by 308.0% in 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 during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LOW. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. DA Davidson boosted their price objective on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Bank of America boosted their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Royal Bank of Canada boosted their price objective on shares of 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. Finally, Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Trading Up 0.4 %

Lowe’s Companies stock opened at $258.28 on Thursday. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The company has a market cap of $145.84 billion, a PE ratio of 21.54, a PEG ratio of 2.18 and a beta of 1.11. The company’s 50-day moving average is $258.29 and its two-hundred day moving average is $257.71.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd were given a $1.15 dividend. The ex-dividend date of this dividend was 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 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 value of $1,974,915.26. Following the sale, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies 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.