Hartford Funds Management Co LLC Grows Position in Lowe’s Companies, Inc. (NYSE:LOW)

Hartford Funds Management Co LLC lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,941 shares of the home improvement retailer’s stock after buying an additional 116 shares during the period. Lowe’s Companies makes up approximately 0.1% of Hartford Funds Management Co LLC’s investment portfolio, making the stock its 22nd biggest holding. Hartford Funds Management Co LLC’s holdings in Lowe’s Companies were worth $1,338,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Crew Capital Management Ltd. increased its holdings in shares of Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after purchasing an additional 37 shares during the period. Summit Place Financial Advisors LLC increased its holdings in Lowe’s Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after buying an additional 37 shares during the period. Clean Yield Group raised its position in Lowe’s Companies by 2.4% during the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after buying an additional 38 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Lowe’s Companies by 0.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after acquiring an additional 40 shares during the period. Finally, Drive Wealth Management LLC boosted its holdings in shares of Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 41 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LOW shares. Royal Bank of Canada raised their target price on shares of Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a report on Wednesday. Truist Financial boosted their price objective on Lowe’s Companies from $307.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus raised their target price on Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Monday, November 11th. TD Cowen boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Finally, Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Stock Down 0.2 %

Lowe’s Companies stock opened at $264.68 on Friday. The company has a fifty day simple moving average of $268.74 and a 200-day simple moving average of $244.83. The firm has a market capitalization of $150.15 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.22 and a beta of 1.10. Lowe’s Companies, Inc. has a 52-week low of $196.23 and a 52-week high of $287.01.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies 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.