Lowe’s Companies, Inc. (NYSE:LOW) Shares Purchased by Grove Bank & Trust

Grove Bank & Trust boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,980 shares of the home improvement retailer’s stock after purchasing an additional 296 shares during the quarter. Grove Bank & Trust’s holdings in Lowe’s Companies were worth $735,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. StoneX Group Inc. purchased a new position in Lowe’s Companies in the third quarter worth approximately $2,713,000. Principal Financial Group Inc. lifted its position in shares of Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after purchasing an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC grew its stake 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 purchasing an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings 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 buying an additional 4,435 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised 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 buying an additional 21,375 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on LOW shares. Royal Bank of Canada increased their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. DA Davidson increased their price target 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. Barclays boosted their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Finally, Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Trading Up 1.0 %

NYSE LOW opened at $261.39 on Monday. The stock has a market capitalization of $147.59 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.08 and a beta of 1.11. The business’s 50 day moving average is $260.10 and its two-hundred day moving average is $254.60. Lowe’s Companies, Inc. has a 12-month low of $209.55 and a 12-month high of $287.01.

Lowe’s Companies Announces Dividend

The firm 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. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction dated 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

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.