Somerset Trust Co Purchases 566 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Somerset Trust Co lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,575 shares of the home improvement retailer’s stock after buying an additional 566 shares during the quarter. Lowe’s Companies comprises 2.7% of Somerset Trust Co’s holdings, making the stock its 4th biggest position. Somerset Trust Co’s holdings in Lowe’s Companies were worth $7,299,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. StoneX Group Inc. acquired a new position in Lowe’s Companies in the 3rd quarter valued at $2,713,000. Principal Financial Group Inc. increased its position in shares of Lowe’s Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after purchasing an additional 24,812 shares during the period. Miracle Mile Advisors LLC increased its position in shares of 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 during the period. Wealth Enhancement Advisory Services LLC raised its stake in Lowe’s Companies by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after purchasing an additional 4,435 shares in the last quarter. Finally, HM Payson & Co. lifted its position in Lowe’s Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after purchasing an additional 2,322 shares during the period. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on LOW shares. Truist Financial decreased 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 report on Thursday, December 12th. TD Cowen lifted their price objective 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. Evercore ISI upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Trading Up 1.0 %

Shares of LOW opened at $261.39 on Friday. The company has a market capitalization of $147.59 billion, a PE ratio of 21.80, a PEG ratio of 2.08 and a beta of 1.11. The stock’s 50-day moving average price is $260.29 and its two-hundred day moving average price is $253.98. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is presently 38.37%.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the business’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 transaction, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

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.