Everence Capital Management Inc. Purchases 1,720 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Everence Capital Management Inc. grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,269 shares of the home improvement retailer’s stock after acquiring an additional 1,720 shares during the period. Everence Capital Management Inc.’s holdings in Lowe’s Companies were worth $5,002,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. FMR LLC increased its holdings in Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. State Street Corp grew its position in shares of Lowe’s Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after buying an additional 460,851 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Lowe’s Companies by 1.6% during the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after buying an additional 187,473 shares during the period. Legal & General Group Plc raised its holdings in shares of Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Lowe’s Companies by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after acquiring an additional 39,953 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LOW has been the subject of several research reports. Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective for the company. Stifel Nicolaus increased their price target on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Truist Financial decreased their target price on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Royal Bank of Canada raised their target price on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Ten investment 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 stock has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Insider Transactions at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the firm’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 in the company, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW traded up $0.08 during midday trading on Friday, reaching $247.06. 414,871 shares of the company’s stock traded hands, compared to its average volume of 1,546,723. Lowe’s Companies, Inc. has a one year low of $209.55 and a one year high of $287.01. The stock has a 50 day moving average of $263.19 and a 200 day moving average of $252.19. The company has a market cap of $139.50 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 2.20 and a beta of 1.09.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is presently 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.