Carnegie Investment Counsel Boosts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Carnegie Investment Counsel grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,256 shares of the home improvement retailer’s stock after purchasing an additional 169 shares during the quarter. Lowe’s Companies makes up 1.1% of Carnegie Investment Counsel’s investment portfolio, making the stock its 18th largest holding. Carnegie Investment Counsel’s holdings in Lowe’s Companies were worth $38,070,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. IFS Advisors LLC purchased a new stake in Lowe’s Companies during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in shares of Lowe’s Companies during the 3rd quarter valued at approximately $27,000. Winch Advisory Services LLC increased its stake in shares of Lowe’s Companies by 56.4% during the 4th 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 during the last quarter. JNBA Financial Advisors raised its holdings in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares during the period. Finally, MFA Wealth Advisors LLC lifted its stake in 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 valued at $35,000 after purchasing an additional 70 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on LOW. Piper Sandler raised their target price on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Royal Bank of Canada boosted their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Truist Financial reduced their target price on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Bank of America upped 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 note on Friday, October 11th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Up 0.8 %

NYSE LOW opened at $258.70 on Friday. The stock’s 50-day simple moving average is $260.44 and its two-hundred day simple moving average is $253.95. Lowe’s Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01. The company has a market capitalization of $146.07 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 2.08 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.78%. Lowe’s Companies’s dividend payout ratio is 38.37%.

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.