BCS Wealth Management Takes $476,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

BCS Wealth Management bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,930 shares of the home improvement retailer’s stock, valued at approximately $476,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC raised its holdings in Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after acquiring an additional 2,399,897 shares in the last quarter. State Street Corp increased its position in shares of Lowe’s Companies by 1.9% during the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after purchasing an additional 460,851 shares during the period. Geode Capital Management LLC raised its stake in shares of Lowe’s Companies by 1.6% in the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after purchasing an additional 187,473 shares in the last quarter. Legal & General Group Plc lifted its position in Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after purchasing an additional 82,978 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Lowe’s Companies by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after buying an additional 39,953 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE LOW opened at $251.30 on Wednesday. The stock has a market capitalization of $141.90 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01. The stock has a fifty day moving average of $260.54 and a 200-day moving average of $253.93.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a $1.15 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.83%. Lowe’s Companies’s payout ratio is 38.37%.

Insiders Place Their Bets

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the sale, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LOW shares. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Royal Bank of Canada increased their price target on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Evercore ISI lifted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Barclays increased their target price on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Finally, Truist Financial decreased their price target 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. Eleven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus 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.