Lowe’s Companies, Inc. (NYSE:LOW) Stake Lifted by OLD National Bancorp IN

OLD National Bancorp IN increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,802 shares of the home improvement retailer’s stock after acquiring an additional 390 shares during the period. OLD National Bancorp IN’s holdings in Lowe’s Companies were worth $2,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in Lowe’s Companies during the 3rd quarter worth $27,000. IFS Advisors LLC bought a new position in shares of Lowe’s Companies in the fourth quarter worth $25,000. JNBA Financial Advisors grew its stake in shares of Lowe’s Companies by 555.6% in the third 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. Winch Advisory Services LLC grew its stake in shares of Lowe’s Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 44 shares in the last quarter. Finally, MFA Wealth Advisors LLC grew its stake in shares of Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on LOW shares. Mizuho raised their target price on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Wells Fargo & Company raised their target price on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Sanford C. Bernstein raised their target price on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Bank of America raised their target price 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. Finally, Evercore ISI upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Price Performance

LOW opened at $264.12 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The business has a 50-day moving average of $259.13 and a 200-day moving average of $257.00. The company has a market capitalization of $149.13 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued 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 dividend payout ratio is 38.37%.

Insider Activity

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was 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 of the company’s stock, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by 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.