McLean Asset Management Corp Boosts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

McLean Asset Management Corp lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,100 shares of the home improvement retailer’s stock after purchasing an additional 116 shares during the quarter. McLean Asset Management Corp’s holdings in Lowe’s Companies were worth $271,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LOW. Pacer Advisors Inc. lifted its position in Lowe’s Companies by 56.3% during the 4th quarter. Pacer Advisors Inc. now owns 66,073 shares of the home improvement retailer’s stock worth $16,307,000 after acquiring an additional 23,807 shares in the last quarter. United Asset Strategies Inc. lifted its position in Lowe’s Companies by 3.3% during the 4th quarter. United Asset Strategies Inc. now owns 6,661 shares of the home improvement retailer’s stock worth $1,644,000 after acquiring an additional 215 shares in the last quarter. Cornerstone Wealth Group LLC lifted its position in Lowe’s Companies by 0.8% during the 4th quarter. Cornerstone Wealth Group LLC now owns 26,066 shares of the home improvement retailer’s stock worth $6,433,000 after acquiring an additional 214 shares in the last quarter. Apexium Financial LP lifted its position in Lowe’s Companies by 43.4% during the 4th quarter. Apexium Financial LP now owns 1,159 shares of the home improvement retailer’s stock worth $286,000 after acquiring an additional 351 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Lowe’s Companies by 20.2% during the 4th quarter. Blue Trust Inc. now owns 13,616 shares of the home improvement retailer’s stock worth $3,688,000 after acquiring an additional 2,290 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $262.35 on Monday. Lowe’s Companies, Inc. has a 1 year low of $209.55 and a 1 year high of $287.01. The stock has a fifty day moving average price of $259.11 and a two-hundred day moving average price of $256.48. The firm 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is 38.37%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LOW shares. Piper Sandler upped their target price on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Evercore ISI upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Truist Financial lowered their price target on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Insider Activity

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the company’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. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.