Fmr LLC Grows Position in Lowe’s Companies, Inc. (NYSE:LOW)

Fmr LLC raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,010,730 shares of the home improvement retailer’s stock after acquiring an additional 2,399,897 shares during the period. Lowe’s Companies makes up approximately 0.4% of Fmr LLC’s holdings, making the stock its 27th biggest holding. Fmr LLC’s holdings in Lowe’s Companies were worth $7,045,006,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Stephens Consulting LLC raised its stake in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. JNBA Financial Advisors increased its holdings in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 100 shares during the last quarter. MFA Wealth Advisors LLC raised its position in shares of Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 70 shares in the last quarter. Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies in the 2nd quarter valued at about $37,000. Finally, Tsfg LLC increased its stake in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on LOW. Stifel Nicolaus raised their price objective on Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Gordon Haskett lowered their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Barclays boosted their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein lowered their target price on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.92.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Up 4.0 %

Shares of NYSE:LOW opened at $275.33 on Tuesday. The business has a 50-day moving average price of $269.11 and a 200-day moving average price of $245.19. The stock has a market cap of $156.19 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.22 and a beta of 1.10. Lowe’s Companies, Inc. has a 52-week low of $196.32 and a 52-week high of $287.01.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 38.37%.

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.