Smart Money Group LLC Buys 146 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Smart Money Group LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 5.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,886 shares of the home improvement retailer’s stock after purchasing an additional 146 shares during the quarter. Smart Money Group LLC’s holdings in Lowe’s Companies were worth $712,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Annex Advisory Services LLC boosted its holdings in shares of Lowe’s Companies by 48.7% during the fourth quarter. Annex Advisory Services LLC now owns 2,123 shares of the home improvement retailer’s stock worth $524,000 after purchasing an additional 695 shares during the period. Client 1ST Advisory Group LLC bought a new position in Lowe’s Companies during the 4th quarter valued at approximately $350,000. Grove Bank & Trust lifted its holdings in Lowe’s Companies by 11.0% in the 4th quarter. Grove Bank & Trust now owns 2,980 shares of the home improvement retailer’s stock worth $735,000 after buying an additional 296 shares during the period. Joule Financial LLC grew its position in shares of Lowe’s Companies by 19.1% in the 4th quarter. Joule Financial LLC now owns 1,015 shares of the home improvement retailer’s stock worth $251,000 after buying an additional 163 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its stake in shares of Lowe’s Companies by 10.6% during the fourth quarter. Aaron Wealth Advisors LLC now owns 5,219 shares of the home improvement retailer’s stock valued at $1,288,000 after buying an additional 499 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LOW. Wells Fargo & Company increased their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Barclays raised their target price on 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. Bank of America upped their price target 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. Mizuho raised their price objective on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, Melius Research assumed coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Stock Up 1.0 %

Shares of LOW stock opened at $261.39 on Monday. The company’s fifty day simple moving average is $260.10 and its two-hundred day simple moving average is $254.60. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01. The stock has a market cap of $147.59 billion, a P/E ratio of 21.80, a PEG ratio of 2.08 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is presently 38.37%.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

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.