Websterrogers Financial Advisors LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Websterrogers Financial Advisors LLC acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,620 shares of the home improvement retailer’s stock, valued at approximately $400,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Virtu Financial LLC boosted its stake in shares of Lowe’s Companies by 3.1% in the 2nd quarter. Virtu Financial LLC now owns 3,296 shares of the home improvement retailer’s stock worth $727,000 after buying an additional 99 shares during the last quarter. Perennial Investment Advisors LLC grew its position in shares of Lowe’s Companies by 3.0% during the 2nd quarter. Perennial Investment Advisors LLC now owns 2,228 shares of the home improvement retailer’s stock valued at $491,000 after acquiring an additional 64 shares during the period. Axxcess Wealth Management LLC increased its stake in shares of Lowe’s Companies by 27.2% during the 2nd quarter. Axxcess Wealth Management LLC now owns 16,451 shares of the home improvement retailer’s stock worth $3,627,000 after purchasing an additional 3,521 shares during the last quarter. Financial & Tax Architects LLC raised its holdings in shares of Lowe’s Companies by 5.4% in the 2nd quarter. Financial & Tax Architects LLC now owns 26,973 shares of the home improvement retailer’s stock worth $5,946,000 after purchasing an additional 1,392 shares during the period. Finally, Meridian Wealth Partners LLC raised its holdings in shares of Lowe’s Companies by 2.7% in the 2nd quarter. Meridian Wealth Partners LLC now owns 1,887 shares of the home improvement retailer’s stock worth $416,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insiders Place Their Bets

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

Lowe’s Companies Trading Up 2.2 %

Shares of LOW opened at $256.73 on Thursday. Lowe’s Companies, Inc. has a 12-month low of $209.55 and a 12-month high of $287.01. The company has a market cap of $144.96 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. The stock has a 50-day moving average price of $260.54 and a 200-day moving average price of $253.93.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.79%. Lowe’s Companies’s payout ratio is presently 38.37%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Evercore ISI raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. Melius Research assumed coverage on Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective for the company. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note 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. Finally, Piper Sandler lifted their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Eleven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $280.85.

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.