Brooklyn Investment Group Boosts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Brooklyn Investment Group grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,272 shares of the home improvement retailer’s stock after purchasing an additional 208 shares during the period. Brooklyn Investment Group’s holdings in Lowe’s Companies were worth $1,054,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Crew Capital Management Ltd. raised its stake in shares of Lowe’s Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after acquiring an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC raised its stake in shares of Lowe’s Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after acquiring an additional 37 shares in the last quarter. Clean Yield Group raised its stake in shares of Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after acquiring an additional 38 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its position in Lowe’s Companies by 0.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after buying an additional 40 shares during the period. Finally, Chapin Davis Inc. increased its position in Lowe’s Companies by 1.3% in the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after buying an additional 41 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LOW has been the topic of several recent analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Piper Sandler lifted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. TD Cowen lifted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Bank of America lifted their price target on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $280.85.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the business’s 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 owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $261.39 on Friday. The firm has a market cap of $147.59 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.08 and a beta of 1.11. The business’s fifty day moving average is $260.29 and its two-hundred day moving average is $253.98. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 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.