Sheets Smith Wealth Management Raises Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Sheets Smith Wealth Management boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,536 shares of the home improvement retailer’s stock after purchasing an additional 751 shares during the period. Sheets Smith Wealth Management’s holdings in Lowe’s Companies were worth $2,353,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. FMR LLC boosted its holdings in Lowe’s Companies by 10.2% during the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Lowe’s Companies by 1,889.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after acquiring an additional 2,027,668 shares during the period. Applied Finance Capital Management LLC increased its stake in shares of Lowe’s Companies by 387.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after purchasing an additional 645,017 shares in the last quarter. Marshall Wace LLP raised its holdings in Lowe’s Companies by 170.5% in the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after purchasing an additional 463,645 shares during the period. Finally, State Street Corp lifted its position in shares of 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 valued at $6,774,948,000 after buying an additional 460,851 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

LOW has been the subject of a number of recent research reports. Truist Financial reduced 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 report on Thursday, December 12th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Royal Bank of Canada lifted their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Mizuho upped their target price on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Stifel Nicolaus lifted their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Up 1.3 %

Shares of NYSE:LOW opened at $264.34 on Wednesday. The company’s 50-day moving average price is $259.83 and its 200 day moving average price is $255.23. 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 $149.26 billion, a PE ratio of 22.05, a P/E/G ratio of 2.19 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. Stockholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

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.