Brookmont Capital Management Boosts Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Brookmont Capital Management grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 17.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 883 shares of the home improvement retailer’s stock after buying an additional 133 shares during the quarter. Brookmont Capital Management’s holdings in Lowe’s Companies were worth $218,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LOW. Crew Capital Management Ltd. raised its position in shares of Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after buying an additional 37 shares during the last quarter. Summit Place Financial Advisors LLC grew its position in shares of Lowe’s Companies by 2.8% in the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after purchasing an additional 37 shares in the last quarter. Clean Yield Group increased its holdings in shares of Lowe’s Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after purchasing an additional 38 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in Lowe’s Companies by 0.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after buying an additional 40 shares in the last quarter. Finally, Chapin Davis Inc. boosted its stake in Lowe’s Companies by 1.3% during the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after buying an additional 41 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies Trading Up 1.0 %

Lowe’s Companies stock opened at $261.39 on Tuesday. The company has a fifty day simple moving average of $260.10 and a 200-day simple moving average of $254.89. The stock has a market cap of $147.59 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11. Lowe’s Companies, Inc. has a 12-month low of $209.55 and a 12-month 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. Stockholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.76%. Lowe’s Companies’s payout ratio is currently 38.37%.

Analysts Set New Price Targets

Several research analysts have recently commented on LOW shares. Truist Financial reduced their price target on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. TD Cowen increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Piper Sandler lifted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. 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, Bank of America lifted their target price on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies has a consensus 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.