Flavin Financial Services Inc. Acquires New Shares in Lowe’s Companies, Inc. (NYSE:LOW)

Flavin Financial Services Inc. acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, Holdings Channel reports. The fund acquired 1,995 shares of the home improvement retailer’s stock, valued at approximately $492,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC boosted its position 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 boosted its position in Lowe’s Companies by 1.9% during 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 acquiring an additional 460,851 shares during the period. Geode Capital Management LLC boosted its position in Lowe’s Companies by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after acquiring an additional 187,473 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Lowe’s Companies by 1.2% during the 3rd 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. Finally, Ontario Teachers Pension Plan Board lifted its holdings in shares of Lowe’s Companies by 1.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock valued at $634,700,000 after buying an additional 36,054 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of several research analyst reports. Bank of America upped their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada upped their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Evercore ISI upped their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Stifel Nicolaus upped their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Finally, Barclays upped their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $280.85.

Insider Transactions at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was 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 owns 16,703 shares in the company, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $256.73 on Tuesday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The stock’s 50-day moving average is $259.00 and its two-hundred day moving average is $257.46. The firm has a market cap of $144.96 billion, a P/E ratio of 21.41, a PEG ratio of 2.18 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The company 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 $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.79%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is currently 38.37%.

Lowe’s Companies 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.