Concord Wealth Partners Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Concord Wealth Partners grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,576 shares of the home improvement retailer’s stock after purchasing an additional 85 shares during the quarter. Concord Wealth Partners’ holdings in Lowe’s Companies were worth $1,870,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LOW. FMR LLC boosted its position in shares of Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after acquiring an additional 2,399,897 shares during the last quarter. State Street Corp increased its holdings in shares of Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after buying an additional 460,851 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Lowe’s Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after buying an additional 187,473 shares during the period. 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 valued at $912,508,000 after acquiring an additional 39,953 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board grew its position in Lowe’s Companies by 1.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock valued at $634,700,000 after acquiring an additional 36,054 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LOW shares. Bank of America raised their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Barclays upped their price target on shares of 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. Mizuho boosted their price objective on Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, DA Davidson increased their target price on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $259.91 on Friday. The business has a 50 day simple moving average of $259.00 and a 200 day simple moving average of $257.24. The firm has a market capitalization of $146.76 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.77%. Lowe’s Companies’s payout ratio is 38.37%.

Insider Activity

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction dated 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 transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

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.