RMR Wealth Builders Boosts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

RMR Wealth Builders increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 20.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,980 shares of the home improvement retailer’s stock after acquiring an additional 501 shares during the period. RMR Wealth Builders’ holdings in Lowe’s Companies were worth $735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. StoneX Group Inc. purchased a new stake in Lowe’s Companies in the third quarter valued at approximately $2,713,000. Principal Financial Group Inc. boosted its position in shares of 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 buying an additional 24,812 shares in the last quarter. HM Payson & Co. increased its position in Lowe’s Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after buying an additional 2,322 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Lowe’s Companies in the third quarter valued at $16,143,000. Finally, Daymark Wealth Partners LLC boosted its stake in shares of Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE:LOW traded up $0.89 during midday trading on Friday, reaching $247.78. The company had a trading volume of 2,537,677 shares, compared to its average volume of 2,311,329. Lowe’s Companies, Inc. has a one year low of $209.55 and a one year high of $287.01. The stock has a market capitalization of $139.91 billion, a P/E ratio of 20.67, a PEG ratio of 2.20 and a beta of 1.11. The stock’s fifty day moving average price is $261.51 and its 200-day moving average price is $252.88.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.86%. Lowe’s Companies’s payout ratio is 38.37%.

Insider Buying and Selling

In related news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the sale, the executive vice president now owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This represents a 30.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on LOW shares. Piper Sandler upped their target price 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. Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. TD Cowen increased their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Mizuho lifted their price objective on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, Bank of America raised their price target on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Eleven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.