Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by Somerset Trust Co

Somerset Trust Co boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,575 shares of the home improvement retailer’s stock after purchasing an additional 566 shares during the quarter. Lowe’s Companies comprises 2.7% of Somerset Trust Co’s holdings, making the stock its 4th largest holding. Somerset Trust Co’s holdings in Lowe’s Companies were worth $7,299,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LOW. Virtu Financial LLC raised its stake in Lowe’s Companies by 3.1% during 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 period. Intech Investment Management LLC increased its holdings in shares of Lowe’s Companies by 1.7% during the second quarter. Intech Investment Management LLC now owns 17,829 shares of the home improvement retailer’s stock valued at $3,931,000 after acquiring an additional 298 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Lowe’s Companies by 1.5% in the 2nd quarter. Brighton Jones LLC now owns 19,503 shares of the home improvement retailer’s stock worth $4,300,000 after purchasing an additional 279 shares in the last quarter. Trust Investment Advisors grew its position in Lowe’s Companies by 1.2% in the 2nd quarter. Trust Investment Advisors now owns 4,422 shares of the home improvement retailer’s stock valued at $975,000 after purchasing an additional 54 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Lowe’s Companies by 6.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 64,690 shares of the home improvement retailer’s stock valued at $14,262,000 after purchasing an additional 3,769 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Lowe’s Companies Stock Up 1.0 %

NYSE LOW opened at $261.39 on Friday. The company has a market cap of $147.59 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. The firm’s 50-day simple moving average is $260.29 and its two-hundred day simple moving average is $253.98. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01.

Lowe’s Companies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LOW shares. Barclays raised their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Melius Research initiated coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target on the stock. TD Cowen boosted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a report on Monday, October 28th. DA Davidson raised their target price on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Finally, Truist Financial cut their target price on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $280.85.

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.