Sovran Advisors LLC Purchases New Shares in Lowe’s Companies, Inc. (NYSE:LOW)

Sovran Advisors LLC acquired a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,797 shares of the home improvement retailer’s stock, valued at approximately $1,456,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its position in Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after acquiring an additional 2,399,897 shares during the period. State Street Corp raised its holdings in shares of Lowe’s Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after purchasing an additional 460,851 shares during the period. Geode Capital Management LLC lifted its stake in 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $912,508,000 after purchasing an additional 39,953 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its position in Lowe’s Companies by 1.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock worth $634,700,000 after buying an additional 36,054 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW opened at $256.69 on Tuesday. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The stock has a 50 day simple moving average of $257.24 and a two-hundred day simple moving average of $258.11. The firm has a market cap of $144.94 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.04 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Activity at Lowe’s Companies

In other 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LOW has been the topic of a number of recent research reports. TD Cowen upped their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Mizuho upped their price objective on shares of Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. DA Davidson upped 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 note on Wednesday, November 20th. Finally, Royal Bank of Canada raised their price objective on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock 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.