Alpha Cubed Investments LLC Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Alpha Cubed Investments LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,137 shares of the home improvement retailer’s stock after purchasing an additional 70 shares during the period. Alpha Cubed Investments LLC’s holdings in Lowe’s Companies were worth $1,268,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LOW. Solidarity Wealth LLC grew its position in shares of Lowe’s Companies by 627.5% during the fourth quarter. Solidarity Wealth LLC now owns 5,449 shares of the home improvement retailer’s stock worth $1,345,000 after purchasing an additional 4,700 shares in the last quarter. Brookmont Capital Management boosted its stake in Lowe’s Companies by 17.7% in the 4th quarter. Brookmont Capital Management now owns 883 shares of the home improvement retailer’s stock worth $218,000 after purchasing an additional 133 shares during the period. Crossmark Global Holdings Inc. grew its holdings in Lowe’s Companies by 0.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 85,150 shares of the home improvement retailer’s stock valued at $21,015,000 after buying an additional 776 shares in the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $50,000. Finally, Pure Financial Advisors LLC boosted its position in shares of Lowe’s Companies by 9.8% during the fourth quarter. Pure Financial Advisors LLC now owns 1,987 shares of the home improvement retailer’s stock worth $490,000 after acquiring an additional 177 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE LOW opened at $261.39 on Tuesday. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The firm has a market capitalization of $147.59 billion, a P/E ratio of 21.80, a PEG ratio of 2.19 and a beta of 1.11. The stock has a 50-day simple moving average of $259.83 and a two-hundred day simple moving average of $255.23.

Lowe’s Companies Dividend Announcement

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 paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the 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 transaction, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on LOW shares. Evercore ISI boosted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Piper Sandler raised their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. TD Cowen upped their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Mizuho boosted their price target on shares of Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 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 assigned a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target of $280.85.

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.