Sheets Smith Wealth Management Purchases 751 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

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

Several other institutional investors have also recently bought and sold shares of LOW. StoneX Group Inc. bought a new position in Lowe’s Companies during the third quarter valued at about $2,713,000. Principal Financial Group Inc. lifted its holdings in shares of 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 worth $175,944,000 after acquiring an additional 24,812 shares during the period. Miracle Mile Advisors LLC raised its position in Lowe’s Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after purchasing an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted 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 purchasing an additional 4,435 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its stake in Lowe’s Companies by 308.0% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock valued at $6,988,000 after buying an additional 21,375 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LOW. Mizuho increased their price target on Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Sanford C. Bernstein upped their target price on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Piper Sandler raised their price target on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, TD Cowen upped their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $280.85.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the 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 sale, 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 filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Stock Up 1.3 %

Shares of Lowe’s Companies stock opened at $264.34 on Wednesday. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 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. The business has a 50 day moving average of $259.83 and a 200 day moving average of $255.23.

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 paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.74%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is currently 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.