Forsta AP Fonden Acquires 20,100 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Forsta AP Fonden increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,700 shares of the home improvement retailer’s stock after purchasing an additional 20,100 shares during the period. Forsta AP Fonden’s holdings in Lowe’s Companies were worth $41,882,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. StoneX Group Inc. acquired a new position in Lowe’s Companies in the 3rd quarter worth $2,713,000. Principal Financial Group Inc. boosted its position in 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 acquiring an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC boosted its position 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 acquiring an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake 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 stake in 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 buying an additional 21,375 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wedbush restated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Bank of America boosted their target price on shares of 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. Evercore ISI upped their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Finally, Sanford C. Bernstein lifted their price target on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

NYSE:LOW opened at $264.68 on Wednesday. Lowe’s Companies, Inc. has a one year low of $209.81 and a one year high of $287.01. The company has a market cap of $149.45 billion, a PE ratio of 22.07, a PEG ratio of 2.16 and a beta of 1.11. The firm has a 50-day moving average of $259.15 and a 200-day moving average of $256.97.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is currently 38.37%.

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.