Clarendon Private LLC Buys New Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Clarendon Private LLC purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, HoldingsChannel reports. The fund purchased 1,835 shares of the home improvement retailer’s stock, valued at approximately $453,000.

Other institutional investors have also bought and sold shares of the company. StoneX Group Inc. purchased a new position in Lowe’s Companies during the third quarter worth $2,713,000. Principal Financial Group Inc. lifted its stake in Lowe’s Companies by 4.0% in the third 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 last quarter. Miracle Mile Advisors LLC lifted its stake in Lowe’s Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after purchasing an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted 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 period. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of Lowe’s Companies by 308.0% during the fourth 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 last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $262.35 on Friday. The business’s 50-day moving average is $259.11 and its 200 day moving average is $255.95. Lowe’s Companies, Inc. has a 1 year low of $209.55 and a 1 year high of $287.01. The firm has a market capitalization of $148.13 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.16 and a beta of 1.11.

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 given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.75%. 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 other news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction dated 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. TD Cowen boosted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Sanford C. Bernstein upped their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Royal Bank of Canada lifted their price objective on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, Mizuho raised their target price on shares of Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.