Park Avenue Securities LLC Raises Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Park Avenue Securities LLC raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 21.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,409 shares of the home improvement retailer’s stock after buying an additional 2,196 shares during the period. Park Avenue Securities LLC’s holdings in Lowe’s Companies were worth $3,062,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LOW. StoneX Group Inc. purchased a new stake in shares of Lowe’s Companies during the third quarter worth about $2,713,000. Principal Financial Group Inc. boosted its stake in 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 purchasing an additional 24,812 shares during the period. Miracle Mile Advisors LLC grew its holdings in Lowe’s Companies by 288.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after buying an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Lowe’s Companies by 1.2% during 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, HM Payson & Co. lifted its holdings 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 in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 0.8 %

NYSE:LOW opened at $258.70 on Friday. The company has a market cap of $146.07 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. Lowe’s Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01. The stock has a fifty day simple moving average of $260.44 and a 200-day simple moving average of $253.95.

Lowe’s Companies Announces Dividend

The business 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 yield of 1.78%. Lowe’s Companies’s payout ratio is 38.37%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price objective for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. DA Davidson raised their price target on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Finally, Stifel Nicolaus upped their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred on 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 approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies 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.