Patton Albertson Miller Group LLC Boosts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Patton Albertson Miller Group LLC grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 31,764 shares of the home improvement retailer’s stock after buying an additional 729 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Lowe’s Companies were worth $7,839,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. StoneX Group Inc. purchased a new position in Lowe’s Companies in the third quarter valued at about $2,713,000. Principal Financial Group Inc. increased its stake in shares of Lowe’s Companies by 4.0% during the 3rd 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 last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Lowe’s Companies by 288.6% in the 4th 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 lifted 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 during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its holdings in Lowe’s Companies by 308.0% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock valued at $6,988,000 after purchasing an additional 21,375 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction 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 approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $262.35 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The stock has a market cap of $148.13 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.16 and a beta of 1.11. The firm’s fifty day moving average price is $259.11 and its 200-day moving average price is $255.95.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.75%. Lowe’s Companies’s payout ratio is 38.37%.

Analyst Ratings Changes

Several brokerages have issued reports on LOW. Mizuho boosted their target price on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Truist Financial lowered their price objective on 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. Wedbush reiterated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. DA Davidson boosted their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Finally, Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $280.85.

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.