Boomfish Wealth Group LLC Increases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Boomfish Wealth Group LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,777 shares of the home improvement retailer’s stock after acquiring an additional 62 shares during the period. Lowe’s Companies makes up 1.6% of Boomfish Wealth Group LLC’s portfolio, making the stock its 18th biggest position. Boomfish Wealth Group LLC’s holdings in Lowe’s Companies were worth $2,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of LOW. Crews Bank & Trust purchased a new position in Lowe’s Companies in the 4th quarter worth approximately $822,000. OLD National Bancorp IN lifted its holdings in shares of Lowe’s Companies by 3.7% during the fourth quarter. OLD National Bancorp IN now owns 10,802 shares of the home improvement retailer’s stock valued at $2,666,000 after purchasing an additional 390 shares in the last quarter. Busey Bank raised its position in Lowe’s Companies by 0.9% in the 4th quarter. Busey Bank now owns 109,395 shares of the home improvement retailer’s stock worth $26,999,000 after buying an additional 980 shares during the last quarter. Baron Wealth Management LLC lifted its stake in Lowe’s Companies by 3.3% during the 4th quarter. Baron Wealth Management LLC now owns 3,517 shares of the home improvement retailer’s stock valued at $868,000 after acquiring an additional 114 shares during the period. Finally, Strategic Planning Group LLC boosted its holdings in shares of Lowe’s Companies by 3.9% during the 4th quarter. Strategic Planning Group LLC now owns 11,256 shares of the home improvement retailer’s stock valued at $2,778,000 after acquiring an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.9 %

Shares of LOW opened at $264.12 on Friday. Lowe’s Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01. The company’s fifty day simple moving average is $259.13 and its 200-day simple moving average is $257.00. The company has a market cap of $149.13 billion, a P/E ratio of 22.03, a P/E/G ratio of 2.19 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders 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 1.74%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Insider Activity

In related news, EVP Quonta D. Vance sold 7,198 shares of the company’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LOW. Mizuho increased their price objective on shares of Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Wells Fargo & Company lifted their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Truist Financial dropped their target price on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. TD Cowen upped their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Company 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.