Secure Asset Management LLC Acquires 706 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Secure Asset Management LLC grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 79.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,599 shares of the home improvement retailer’s stock after purchasing an additional 706 shares during the period. Secure Asset Management LLC’s holdings in Lowe’s Companies were worth $395,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LOW. FMR LLC increased its holdings in Lowe’s Companies by 10.2% in 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 in the last quarter. State Street Corp grew its stake in shares of Lowe’s Companies by 1.9% in 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 acquiring an additional 460,851 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 valued at $3,169,041,000 after purchasing an additional 187,473 shares during the last quarter. Legal & General Group Plc lifted its position in 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 during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in 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. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LOW. Piper Sandler boosted their target price 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. Wedbush reiterated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. TD Cowen raised their target price 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. Mizuho upped their price target on shares of 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, DA Davidson raised their price objective on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Stock Up 0.4 %

Shares of LOW stock opened at $262.35 on Friday. The company’s fifty day simple moving average is $259.25 and its two-hundred day simple moving average is $255.64. 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 $148.13 billion, a P/E ratio of 21.88, a PEG ratio of 2.16 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.75%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Activity at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This represents a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

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.