Cerro Pacific Wealth Advisors LLC Acquires 51 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Cerro Pacific Wealth Advisors LLC boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.4% in the 4th quarter, HoldingsChannel reports. The firm owned 12,108 shares of the home improvement retailer’s stock after purchasing an additional 51 shares during the quarter. Lowe’s Companies makes up approximately 1.1% of Cerro Pacific Wealth Advisors LLC’s portfolio, making the stock its 28th largest holding. Cerro Pacific Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $3,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in LOW. Key Client Fiduciary Advisors LLC raised its holdings in shares of Lowe’s Companies by 15.4% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 2,856 shares of the home improvement retailer’s stock worth $705,000 after acquiring an additional 381 shares in the last quarter. Veracity Capital LLC raised its stake in Lowe’s Companies by 8.6% during the fourth quarter. Veracity Capital LLC now owns 2,504 shares of the home improvement retailer’s stock valued at $618,000 after purchasing an additional 198 shares in the last quarter. Secure Asset Management LLC lifted its position in Lowe’s Companies by 79.1% during the fourth quarter. Secure Asset Management LLC now owns 1,599 shares of the home improvement retailer’s stock valued at $395,000 after purchasing an additional 706 shares during the last quarter. Red Door Wealth Management LLC grew its stake in shares of Lowe’s Companies by 1.1% in the 4th quarter. Red Door Wealth Management LLC now owns 4,799 shares of the home improvement retailer’s stock worth $1,184,000 after buying an additional 51 shares in the last quarter. Finally, D.B. Root & Company LLC increased its holdings in shares of Lowe’s Companies by 7.0% in the 4th quarter. D.B. Root & Company LLC now owns 828 shares of the home improvement retailer’s stock worth $204,000 after buying an additional 54 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies Stock Up 1.2 %

Shares of NYSE:LOW opened at $261.16 on Friday. The firm has a 50 day moving average of $259.44 and a 200 day moving average of $255.60. The company has a market capitalization of $147.47 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.11. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is 38.37%.

Wall Street Analyst Weigh In

Several research firms recently commented on LOW. Royal Bank of Canada lifted their price target on Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Bank of America lifted their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Wells Fargo & Company increased their price target on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Piper Sandler lifted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Truist Financial reduced their target price on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target of $280.85.

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.