Financial Advocates Investment Management Acquires 230 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Financial Advocates Investment Management grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,189 shares of the home improvement retailer’s stock after buying an additional 230 shares during the quarter. Financial Advocates Investment Management’s holdings in Lowe’s Companies were worth $1,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in LOW. State of Alaska Department of Revenue lifted its holdings in shares of Lowe’s Companies by 68.7% in the fourth quarter. State of Alaska Department of Revenue now owns 123,829 shares of the home improvement retailer’s stock valued at $30,560,000 after purchasing an additional 50,408 shares in the last quarter. NovaPoint Capital LLC raised its position in Lowe’s Companies by 7.0% in the 4th quarter. NovaPoint Capital LLC now owns 4,427 shares of the home improvement retailer’s stock valued at $1,092,000 after buying an additional 289 shares during the last quarter. Tyche Wealth Partners LLC raised its position in Lowe’s Companies by 8.1% in the 4th quarter. Tyche Wealth Partners LLC now owns 6,729 shares of the home improvement retailer’s stock valued at $1,661,000 after buying an additional 502 shares during the last quarter. Absher Wealth Management LLC lifted its stake in Lowe’s Companies by 0.4% during the 4th quarter. Absher Wealth Management LLC now owns 17,185 shares of the home improvement retailer’s stock valued at $4,241,000 after acquiring an additional 70 shares in the last quarter. Finally, Econ Financial Services Corp purchased a new position in Lowe’s Companies during the 4th quarter worth $955,000. 74.06% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $252.17 on Friday. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The firm has a market capitalization of $142.39 billion, a P/E ratio of 21.03, a PEG ratio of 2.18 and a beta of 1.11. The business has a fifty day moving average price of $257.65 and a 200-day moving average price of $257.70.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Wednesday, January 22nd. Lowe’s Companies’s payout ratio is presently 38.37%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays increased their target price on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Stifel Nicolaus increased their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Mizuho increased their price target on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, 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 report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.