Johnson & White Wealth Management LLC Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Johnson & White Wealth Management LLC purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 868 shares of the home improvement retailer’s stock, valued at approximately $214,000.

A number of other large investors have also recently bought and sold shares of LOW. FMR LLC raised its position in Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares during the last quarter. State Street Corp raised its holdings in Lowe’s Companies by 1.9% during the third 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 in the last quarter. Geode Capital Management LLC raised its holdings in Lowe’s Companies by 1.6% during the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after purchasing an additional 187,473 shares in the last quarter. Legal & General Group Plc lifted its position in Lowe’s Companies by 1.6% in 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 during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Lowe’s Companies by 1.2% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the sale, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 0.3 %

Lowe’s Companies stock opened at $248.64 on Tuesday. The stock has a fifty day moving average price of $260.90 and a 200 day moving average price of $253.71. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01. The firm has a market capitalization of $140.39 billion, a P/E ratio of 20.74, a PEG ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.85%. Lowe’s Companies’s payout ratio is currently 38.37%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LOW. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Evercore ISI upped their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Piper Sandler raised their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Bank of America upped their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Eleven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus 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.