Fiduciary Trust Co Boosts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Fiduciary Trust Co boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,961 shares of the home improvement retailer’s stock after acquiring an additional 2,216 shares during the period. Fiduciary Trust Co’s holdings in Lowe’s Companies were worth $18,949,000 as of its most recent filing with the SEC.

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

Insider Activity

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Price Performance

NYSE:LOW opened at $273.14 on Thursday. The company has a market capitalization of $154.95 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 2.31 and a beta of 1.10. The business has a 50 day moving average of $269.80 and a 200 day moving average of $245.66. Lowe’s Companies, Inc. has a 1-year low of $196.32 and a 1-year 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 represents a $4.60 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 38.37%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Wells Fargo & Company raised their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Bank of America raised their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Evercore ISI lifted their target price on Lowe’s Companies from $255.00 to $270.00 and gave the company an “in-line” rating in a report on Wednesday, November 20th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $277.92.

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.