941 Shares in Lowe’s Companies, Inc. (NYSE:LOW) Purchased by Hidden Cove Wealth Management LLC

Hidden Cove Wealth Management LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 941 shares of the home improvement retailer’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in Lowe’s Companies by 6.2% in the 4th quarter. Van ECK Associates Corp now owns 86,887 shares of the home improvement retailer’s stock valued at $21,444,000 after purchasing an additional 5,100 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Lowe’s Companies by 79.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 95,328 shares of the home improvement retailer’s stock valued at $23,544,000 after purchasing an additional 42,339 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of Lowe’s Companies by 18.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,075 shares of the home improvement retailer’s stock valued at $512,000 after buying an additional 324 shares in the last quarter. Gladstone Institutional Advisory LLC raised its stake in shares of Lowe’s Companies by 16.5% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,779 shares of the home improvement retailer’s stock worth $1,179,000 after buying an additional 676 shares during the last quarter. Finally, Community Financial Services Group LLC boosted its position in shares of Lowe’s Companies by 5.3% in the 4th quarter. Community Financial Services Group LLC now owns 19,025 shares of the home improvement retailer’s stock worth $4,695,000 after buying an additional 950 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LOW has been the subject of several recent research reports. Sanford C. Bernstein raised their target price on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Guggenheim reissued a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. DA Davidson upped their target price on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Wells Fargo & Company raised their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $280.88.

Lowe’s Companies Price Performance

NYSE LOW opened at $250.32 on Thursday. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The firm has a market capitalization of $141.34 billion, a P/E ratio of 20.88, a P/E/G ratio of 2.04 and a beta of 1.11. The business’s 50-day simple moving average is $256.59 and its 200-day simple moving average is $258.39.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd were paid a dividend of $1.15 per share. The ex-dividend date was Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.84%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Transactions at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The sale 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.

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.