State of Alaska Department of Revenue Grows Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

State of Alaska Department of Revenue boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 68.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 123,829 shares of the home improvement retailer’s stock after purchasing an additional 50,408 shares during the period. State of Alaska Department of Revenue’s holdings in Lowe’s Companies were worth $30,560,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of LOW. StoneX Group Inc. acquired a new stake in Lowe’s Companies during the 3rd quarter worth approximately $2,713,000. Principal Financial Group Inc. grew its position in Lowe’s Companies by 4.0% in 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 buying an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in Lowe’s Companies by 288.6% in the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after buying an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Lowe’s Companies by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after buying an additional 4,435 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its position in Lowe’s Companies by 308.0% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock worth $6,988,000 after buying an additional 21,375 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Stifel Nicolaus raised their price target on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Finally, Evercore ISI raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Up 0.4 %

Shares of Lowe’s Companies stock opened at $258.28 on Thursday. The firm has a market cap of $145.84 billion, a PE ratio of 21.54, a P/E/G ratio of 2.18 and a beta of 1.11. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The business’s fifty day moving average is $258.29 and its two-hundred day moving average is $257.71.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.26% of the company’s stock.

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.