Spire Wealth Management Acquires 2,152 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Spire Wealth Management raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,160 shares of the home improvement retailer’s stock after purchasing an additional 2,152 shares during the quarter. Spire Wealth Management’s holdings in Lowe’s Companies were worth $4,482,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. StoneX Group Inc. acquired a new position in Lowe’s Companies during the 3rd quarter worth about $2,713,000. Principal Financial Group Inc. grew its stake in shares of Lowe’s Companies by 4.0% during the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after purchasing an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Lowe’s Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after purchasing an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Lowe’s Companies by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after purchasing an additional 4,435 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in Lowe’s Companies by 308.0% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock worth $6,988,000 after buying an additional 21,375 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 1.5 %

LOW opened at $259.91 on Monday. The stock has a market capitalization of $146.76 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.19 and a beta of 1.11. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01. The firm’s fifty day simple moving average is $259.00 and its 200 day simple moving average is $257.35.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.77%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Insider Transactions at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total value of $1,974,915.26. Following the sale, the executive vice president now 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 position. 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

Several research firms have recently commented on LOW. Stifel Nicolaus lifted their target price on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein lifted their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Finally, Guggenheim restated a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target 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.