1,300 Shares in Lowe’s Companies, Inc. (NYSE:LOW) Purchased by Innova Wealth Partners

Innova Wealth Partners purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,300 shares of the home improvement retailer’s stock, valued at approximately $321,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Lowe’s Companies by 10.2% during 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 last quarter. State Street Corp boosted its holdings in shares of Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after purchasing an additional 460,851 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lowe’s Companies by 1.6% during the 3rd 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. Legal & General Group Plc grew its position in shares of Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after purchasing an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Lowe’s Companies by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after purchasing an additional 39,953 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction 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 transaction, the executive vice president now directly owns 16,703 shares in the company, 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial dropped their price target on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. TD Cowen raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Wells Fargo & Company lifted their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Trading Down 1.3 %

Shares of Lowe’s Companies stock opened at $246.46 on Wednesday. The stock’s fifty day moving average price is $262.10 and its 200-day moving average price is $252.97. The firm has a market cap of $139.16 billion, a P/E ratio of 20.56, a P/E/G ratio of 2.20 and a beta of 1.11. Lowe’s Companies, Inc. has a 12 month low of $209.55 and a 12 month high of $287.01.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

About Lowe’s Companies

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.