Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 308.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,315 shares of the home improvement retailer’s stock after purchasing an additional 21,375 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $6,988,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. StoneX Group Inc. bought a new stake in shares of Lowe’s Companies during the 3rd quarter worth $2,713,000. Principal Financial Group Inc. increased its position in shares of 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 worth $175,944,000 after acquiring an additional 24,812 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Lowe’s Companies by 1.2% in the 4th 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 in the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of 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 purchasing an additional 14,132 shares in the last quarter. Finally, HM Payson & Co. boosted its position in shares of Lowe’s Companies by 1.1% in 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 during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the company’s 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 completion of the sale, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LOW shares. Piper Sandler increased their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Melius Research initiated coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 target price for the company. Royal Bank of Canada increased their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Finally, Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their target price for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Eleven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $251.30 on Wednesday. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01. The stock has a market capitalization of $141.90 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.20 and a beta of 1.11. The firm has a fifty day moving average of $260.54 and a two-hundred day moving average of $253.93.

Lowe’s Companies Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.83%. Lowe’s Companies’s payout ratio is currently 38.37%.

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.