Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Iowa State Bank

Iowa State Bank lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% in the fourth quarter, HoldingsChannel reports. The fund owned 16,068 shares of the home improvement retailer’s stock after selling 208 shares during the period. Iowa State Bank’s holdings in Lowe’s Companies were worth $3,966,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in LOW. Legacy Investment Solutions LLC acquired a new stake in Lowe’s Companies in the third quarter worth about $27,000. JNBA Financial Advisors raised its position in shares of Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 100 shares in the last quarter. MFA Wealth Advisors LLC lifted its stake in shares of Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after acquiring an additional 70 shares during the period. Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies in the second quarter valued at approximately $37,000. Finally, Tsfg LLC raised its holdings in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.1 %

Lowe’s Companies stock traded up $2.61 during trading hours on Monday, hitting $251.09. The stock had a trading volume of 1,111,903 shares, compared to its average volume of 1,893,805. The company has a 50-day moving average of $262.80 and a two-hundred day moving average of $252.69. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The company has a market cap of $141.78 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.83%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LOW. Bank of America increased their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. TD Cowen increased their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Piper Sandler increased their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Barclays boosted their target price on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $280.85.

Insiders Place Their Bets

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction dated 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 sale, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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.