Strategic Financial Concepts LLC Purchases 1,223,116 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Strategic Financial Concepts LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 24,531.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,228,102 shares of the home improvement retailer’s stock after buying an additional 1,223,116 shares during the period. Strategic Financial Concepts LLC’s holdings in Lowe’s Companies were worth $303,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFS Advisors LLC bought a new stake in Lowe’s Companies during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Lowe’s Companies during the third quarter valued at approximately $27,000. Winch Advisory Services LLC lifted its holdings in shares of Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. JNBA Financial Advisors boosted its position in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, MFA Wealth Advisors LLC grew its stake in shares of Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LOW shares. Bank of America lifted their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. TD Cowen raised their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Truist Financial cut their price target on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $256.08 on Friday. The stock has a market capitalization of $144.59 billion, a PE ratio of 21.36, a P/E/G ratio of 2.18 and a beta of 1.11. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The company’s fifty day simple moving average is $257.99 and its 200-day simple moving average is $257.71.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

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.