Hemington Wealth Management Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Hemington Wealth Management boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,186 shares of the home improvement retailer’s stock after purchasing an additional 92 shares during the quarter. Hemington Wealth Management’s holdings in Lowe’s Companies were worth $292,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOW. FMR LLC grew its holdings in Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. International Assets Investment Management LLC grew its holdings in Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after purchasing an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC grew its holdings in Lowe’s Companies by 24,531.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after purchasing an additional 1,223,116 shares during the period. Applied Finance Capital Management LLC grew its holdings in shares of Lowe’s Companies by 387.7% during the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after buying an additional 645,017 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Lowe’s Companies by 1.9% during the third 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 during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Truist Financial increased their price target on shares of Lowe’s Companies from $307.00 to $308.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price target 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. Finally, DA Davidson increased their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.88.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the firm’s 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $250.32 on Thursday. The company has a market capitalization of $141.34 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.04 and a beta of 1.11. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The company’s fifty day moving average price is $256.59 and its 200-day moving average price is $258.39.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.84%. Lowe’s Companies’s payout ratio is 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.