BankPlus Wealth Management LLC Invests $500,000 in Lowe’s Companies, Inc. (NYSE:LOW)

BankPlus Wealth Management LLC acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,025 shares of the home improvement retailer’s stock, valued at approximately $500,000.

A number of other large investors have also made changes to their positions in the company. StoneX Group Inc. purchased a new position in Lowe’s Companies in the third quarter valued at about $2,713,000. Principal Financial Group Inc. raised its stake in Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after purchasing an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in Lowe’s Companies by 288.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after acquiring an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Lowe’s Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after buying an additional 4,435 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in Lowe’s Companies by 308.0% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock valued at $6,988,000 after purchasing an additional 21,375 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred on 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 transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $268.34 on Tuesday. The company has a market cap of $151.52 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.16 and a beta of 1.11. Lowe’s Companies, Inc. has a fifty-two week low of $209.81 and a fifty-two week high of $287.01. The stock has a fifty day moving average price of $259.11 and a 200-day moving average price of $256.48.

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 given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.71%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LOW. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. TD Cowen upped their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Sanford C. Bernstein boosted their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Stifel Nicolaus lifted their target price on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Finally, DA Davidson raised their price target on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies currently has a consensus 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.