Fmr LLC Buys 2,399,897 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Fmr LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 10.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 26,010,730 shares of the home improvement retailer’s stock after purchasing an additional 2,399,897 shares during the quarter. Lowe’s Companies accounts for 0.4% of Fmr LLC’s portfolio, making the stock its 27th biggest position. Fmr LLC owned 4.59% of Lowe’s Companies worth $7,045,006,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in LOW. Stephens Consulting LLC lifted 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 buying an additional 70 shares during the period. JNBA Financial Advisors lifted its stake in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares during the period. MFA Wealth Advisors LLC boosted its holdings in 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 valued at $35,000 after acquiring an additional 70 shares in the last quarter. Kimelman & Baird LLC purchased a new position in Lowe’s Companies during the 2nd quarter valued at $37,000. Finally, Tsfg LLC raised its holdings in Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of research reports. Barclays lifted their target price on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Morgan Stanley increased their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. UBS Group raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. reduced their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Finally, Piper Sandler raised their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Price Performance

LOW stock opened at $275.33 on Tuesday. The company has a market cap of $156.19 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The stock’s fifty day moving average price is $269.11 and its 200-day moving average price is $245.19. 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 announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.67%. 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 38.37%.

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.