Merit Financial Group LLC Boosts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Merit Financial Group LLC grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 14.5% during the fourth quarter, HoldingsChannel reports. The fund owned 19,293 shares of the home improvement retailer’s stock after acquiring an additional 2,436 shares during the quarter. Merit Financial Group LLC’s holdings in Lowe’s Companies were worth $4,761,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LOW. IFS Advisors LLC bought a new position in Lowe’s Companies in the fourth quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in shares of Lowe’s Companies during the 3rd quarter worth approximately $27,000. Winch Advisory Services LLC lifted its position in Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 44 shares during the last quarter. JNBA Financial Advisors boosted its stake in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Finally, MFA Wealth Advisors LLC boosted its stake in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 70 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LOW. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler raised their price target on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Wells Fargo & Company upped their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Truist Financial lowered their target price on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Melius Research began coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Trading Up 1.0 %

Lowe’s Companies stock opened at $261.39 on Friday. The firm has a market cap of $147.59 billion, a PE ratio of 21.80, a P/E/G ratio of 2.08 and a beta of 1.11. Lowe’s Companies, Inc. has a 12 month low of $209.55 and a 12 month high of $287.01. The stock’s 50 day simple moving average is $260.10 and its two-hundred day simple moving average is $254.31.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.76%. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

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.