Perigon Wealth Management LLC Acquires 4,587 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Perigon Wealth Management LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 131.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,073 shares of the home improvement retailer’s stock after buying an additional 4,587 shares during the period. Perigon Wealth Management LLC’s holdings in Lowe’s Companies were worth $2,089,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Lowe’s Companies in the third quarter valued at approximately $27,000. IFS Advisors LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $25,000. JNBA Financial Advisors boosted its holdings in shares of Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Winch Advisory Services LLC boosted its holdings in shares of Lowe’s Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 44 shares during the period. Finally, MFA Wealth Advisors LLC boosted its holdings in shares of Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

NYSE LOW opened at $261.72 on Thursday. The stock’s fifty day moving average price is $259.15 and its 200 day moving average price is $256.97. Lowe’s Companies, Inc. has a 1 year low of $210.10 and a 1 year high of $287.01. The company has a market cap of $147.78 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 2.16 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is 38.37%.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LOW. Sanford C. Bernstein boosted their price target on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Royal Bank of Canada boosted their price target 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. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and upped their target price for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Finally, Evercore ISI upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target 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.