Pines Wealth Management LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Pines Wealth Management LLC acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,683 shares of the home improvement retailer’s stock, valued at approximately $1,657,000.

Several other hedge funds have also recently modified their holdings of the company. Wynn Capital LLC raised its stake in shares of Lowe’s Companies by 1.4% during the 4th quarter. Wynn Capital LLC now owns 3,604 shares of the home improvement retailer’s stock worth $890,000 after purchasing an additional 50 shares during the period. Graves Light Lenhart Wealth Inc. increased its holdings in Lowe’s Companies by 155.2% during the fourth quarter. Graves Light Lenhart Wealth Inc. now owns 3,603 shares of the home improvement retailer’s stock worth $889,000 after buying an additional 2,191 shares during the last quarter. Johnson & White Wealth Management LLC bought a new stake in Lowe’s Companies in the fourth quarter worth about $214,000. Grandview Asset Management LLC purchased a new position in Lowe’s Companies in the fourth quarter valued at about $642,000. Finally, Ellenbecker Investment Group grew its position in shares of Lowe’s Companies by 6.3% during the 4th quarter. Ellenbecker Investment Group now owns 1,110 shares of the home improvement retailer’s stock valued at $274,000 after acquiring an additional 66 shares during the period. Institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies 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 sale, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Stock Up 1.1 %

Shares of NYSE LOW opened at $251.30 on Wednesday. The stock’s 50-day simple moving average is $260.54 and its two-hundred day simple moving average is $253.93. Lowe’s Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01. The firm has a market capitalization of $141.90 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The business 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. This represents a $4.60 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LOW shares. Evercore ISI lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a report on Thursday, December 12th. 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. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company upped their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies 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.