Raub Brock Capital Management LP Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Raub Brock Capital Management LP lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,894 shares of the home improvement retailer’s stock after buying an additional 128 shares during the quarter. Lowe’s Companies makes up about 3.8% of Raub Brock Capital Management LP’s portfolio, making the stock its 14th biggest position. Raub Brock Capital Management LP’s holdings in Lowe’s Companies were worth $17,990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Crew Capital Management Ltd. increased its stake in Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after purchasing an additional 37 shares during the period. Summit Place Financial Advisors LLC grew its holdings in shares of Lowe’s Companies by 2.8% in the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after purchasing an additional 37 shares during the last quarter. Clean Yield Group increased its stake in Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after buying an additional 38 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in Lowe’s Companies by 0.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after buying an additional 40 shares in the last quarter. Finally, Chapin Davis Inc. boosted its position in Lowe’s Companies by 1.3% in the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after buying an additional 41 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Piper Sandler lifted 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. Guggenheim reissued a “buy” rating and set a $300.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Bank of America upped their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $261.39 on Friday. The stock has a market cap of $147.59 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. The stock has a 50-day moving average of $260.10 and a two-hundred day moving average of $254.31. Lowe’s Companies, Inc. has a one year low of $209.55 and a one year high of $287.01.

Lowe’s Companies Announces Dividend

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 yield of 1.76%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Buying and Selling

In other news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the sale, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. This represents 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 through the SEC website. 0.26% of the stock is owned by corporate insiders.

About Lowe’s Companies

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.