Sanders Morris Harris LLC Grows Position in Lowe’s Companies, Inc. (NYSE:LOW)

Sanders Morris Harris LLC boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 31.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,267 shares of the home improvement retailer’s stock after buying an additional 2,000 shares during the quarter. Sanders Morris Harris LLC’s holdings in Lowe’s Companies were worth $2,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its stake in Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. International Assets Investment Management LLC grew its stake in Lowe’s Companies by 1,889.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after purchasing an additional 2,027,668 shares during the period. Applied Finance Capital Management LLC grew its stake in Lowe’s Companies by 387.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after purchasing an additional 645,017 shares during the period. Marshall Wace LLP grew its stake in Lowe’s Companies by 170.5% in the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock valued at $162,178,000 after purchasing an additional 463,645 shares during the period. Finally, State Street Corp grew its stake in Lowe’s Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after purchasing an additional 460,851 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Up 0.5 %

Shares of NYSE LOW traded up $1.23 during trading hours on Thursday, reaching $257.95. 88,712 shares of the stock traded hands, compared to its average volume of 2,157,533. The company has a market capitalization of $145.65 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. Lowe’s Companies, Inc. has a 52-week low of $209.55 and a 52-week high of $287.01. The company’s 50-day simple moving average is $260.54 and its two-hundred day simple moving average is $253.93.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend 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 the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Truist Financial cut their price target on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Barclays increased their price target on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Finally, Guggenheim reiterated a “buy” rating and set a $300.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently 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.