Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Optas LLC

Optas LLC grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 143.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,311 shares of the home improvement retailer’s stock after acquiring an additional 1,953 shares during the period. Optas LLC’s holdings in Lowe’s Companies were worth $817,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. StoneX Group Inc. acquired a new position in shares of Lowe’s Companies in the 3rd quarter valued at about $2,713,000. Principal Financial Group Inc. boosted its holdings 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 valued at $175,944,000 after buying an additional 24,812 shares during the period. Miracle Mile Advisors LLC boosted its holdings in shares of Lowe’s Companies by 288.6% in 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 during the period. Wealth Enhancement Advisory Services LLC boosted its holdings 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 buying an additional 4,435 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in shares of Lowe’s Companies by 308.0% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock valued at $6,988,000 after buying an additional 21,375 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LOW. Barclays lifted their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. TD Cowen lifted their price objective 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. Evercore ISI lifted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Wells Fargo & Company lifted their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Trading Down 1.3 %

Shares of Lowe’s Companies stock opened at $256.73 on Tuesday. The firm has a fifty day simple moving average of $259.00 and a 200-day simple moving average of $257.46. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The stock has a market capitalization of $144.96 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.18 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is currently 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 shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the transaction, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

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.