Patriot Investment Management Group Inc. Increases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Patriot Investment Management Group Inc. grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 6.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,399 shares of the home improvement retailer’s stock after acquiring an additional 88 shares during the period. Patriot Investment Management Group Inc.’s holdings in Lowe’s Companies were worth $345,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. StoneX Group Inc. acquired a new stake in shares of Lowe’s Companies in the third quarter valued at $2,713,000. Principal Financial Group Inc. lifted its position in shares of Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after purchasing an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC lifted its holdings in Lowe’s Companies by 288.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after buying an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Lowe’s Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after acquiring an additional 4,435 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its holdings in shares of Lowe’s Companies by 308.0% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock valued at $6,988,000 after acquiring an additional 21,375 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 1.2 %

Shares of NYSE LOW opened at $261.16 on Friday. The stock has a fifty day moving average price of $259.44 and a 200 day moving average price of $255.60. The company has a market cap of $147.47 billion, a P/E ratio of 21.78, a P/E/G ratio of 2.16 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 Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insiders Place Their Bets

In related 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 approximately $4,582,802.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LOW shares. Guggenheim reaffirmed a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. Barclays lifted their price target on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Piper Sandler raised their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Royal Bank of Canada boosted their price target on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

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.