Sonora Investment Management Group LLC Has $523,000 Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Sonora Investment Management Group LLC increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,118 shares of the home improvement retailer’s stock after buying an additional 54 shares during the period. Sonora Investment Management Group LLC’s holdings in Lowe’s Companies were worth $523,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. StoneX Group Inc. acquired a new position in Lowe’s Companies during the 3rd quarter valued at about $2,713,000. Principal Financial Group Inc. lifted 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 valued at $175,944,000 after purchasing an additional 24,812 shares during the period. Miracle Mile Advisors LLC lifted 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 valued at $4,696,000 after purchasing an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in 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 valued at $98,104,000 after purchasing an additional 4,435 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its position in Lowe’s Companies by 308.0% during 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 purchasing an additional 21,375 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LOW. Wells Fargo & Company upped their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Truist Financial cut their price target on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Bank of America increased their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Stock Down 1.5 %

Shares of LOW opened at $259.91 on Friday. The stock has a market capitalization of $146.76 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.19 and a beta of 1.11. Lowe’s Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01. The company has a 50 day moving average of $259.10 and a 200-day moving average of $257.05.

Lowe’s Companies Dividend Announcement

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 $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is presently 38.37%.

Insider Activity

In other 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 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 approximately $4,582,802.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.