StoneX Group Inc. Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

StoneX Group Inc. bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, HoldingsChannel.com reports. The fund bought 10,018 shares of the home improvement retailer’s stock, valued at approximately $2,713,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Plato Investment Management Ltd raised its position in Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after purchasing an additional 5,470 shares during the period. HM Payson & Co. raised its holdings in shares of Lowe’s Companies by 1.1% during the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after buying an additional 2,322 shares during the period. Daymark Wealth Partners LLC raised its holdings in shares of Lowe’s Companies by 12.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after buying an additional 2,889 shares during the period. AMF Tjanstepension AB lifted its position in Lowe’s Companies by 14.4% during the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after acquiring an additional 20,123 shares in the last quarter. Finally, Claro Advisors LLC boosted its holdings in Lowe’s Companies by 2,246.3% in the 3rd quarter. Claro Advisors LLC now owns 40,521 shares of the home improvement retailer’s stock worth $10,975,000 after acquiring an additional 38,794 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of analyst reports. Melius Research started coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Bank of America lifted their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Royal Bank of Canada upped their price objective on shares of Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a research report on Wednesday. Mizuho lifted their target price on Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Sanford C. Bernstein reduced their price target on Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating for the company in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Trading Down 0.2 %

Shares of NYSE LOW opened at $264.68 on Friday. Lowe’s Companies, Inc. has a 12-month low of $196.23 and a 12-month high of $287.01. The company has a market cap of $150.15 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The stock’s 50 day simple moving average is $268.74 and its 200 day simple moving average is $244.83.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. Lowe’s Companies’s payout ratio is 38.37%.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.