Miracle Mile Advisors LLC Acquires 14,132 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Miracle Mile Advisors LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 288.6% in the 4th quarter, HoldingsChannel reports. The firm owned 19,028 shares of the home improvement retailer’s stock after acquiring an additional 14,132 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Lowe’s Companies were worth $4,696,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LOW. DekaBank Deutsche Girozentrale raised its holdings in shares of Lowe’s Companies by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 209,846 shares of the home improvement retailer’s stock valued at $45,961,000 after purchasing an additional 594 shares during the period. Wealthspire Advisors LLC lifted its position in shares of Lowe’s Companies by 1.1% during the 2nd quarter. Wealthspire Advisors LLC now owns 6,972 shares of the home improvement retailer’s stock valued at $1,537,000 after buying an additional 74 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after purchasing an additional 90,945 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in shares of Lowe’s Companies by 3.9% in the second quarter. J.W. Cole Advisors Inc. now owns 7,215 shares of the home improvement retailer’s stock worth $1,591,000 after acquiring an additional 272 shares during the period. Finally, Lyell Wealth Management LP grew its holdings in Lowe’s Companies by 2.0% during the 2nd quarter. Lyell Wealth Management LP now owns 4,320 shares of the home improvement retailer’s stock valued at $952,000 after buying an additional 83 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Insider Activity at Lowe’s Companies

In related 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 transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.

Lowe’s Companies Price Performance

Shares of LOW stock traded up $0.74 on Monday, hitting $248.64. 2,689,449 shares of the stock traded hands, compared to its average volume of 2,351,597. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01. The firm has a 50 day simple moving average of $261.23 and a two-hundred day simple moving average of $253.51. The firm has a market cap of $140.39 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.85%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Guggenheim restated a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their target price for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Royal Bank of Canada boosted their price target on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Loop Capital upgraded shares of 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. Finally, Barclays upped their target price on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Eleven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Lowe’s Companies 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.