Foster & Motley Inc. Has $7 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Foster & Motley Inc. reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,360 shares of the home improvement retailer’s stock after selling 860 shares during the period. Foster & Motley Inc.’s holdings in Lowe’s Companies were worth $6,999,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its stake in Lowe’s Companies by 7.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 59,954 shares of the home improvement retailer’s stock valued at $13,218,000 after purchasing an additional 4,343 shares in the last quarter. Advisory Alpha LLC boosted its holdings in shares of Lowe’s Companies by 8.5% in the 2nd quarter. Advisory Alpha LLC now owns 3,906 shares of the home improvement retailer’s stock valued at $861,000 after buying an additional 306 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Lowe’s Companies in the second quarter valued at $266,000. Clearbridge Investments LLC increased its holdings in Lowe’s Companies by 3.1% during the second quarter. Clearbridge Investments LLC now owns 334,326 shares of the home improvement retailer’s stock worth $73,706,000 after buying an additional 10,039 shares during the last quarter. Finally, RiverFront Investment Group LLC bought a new stake in Lowe’s Companies during the second quarter worth $420,000. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $261.72 on Thursday. Lowe’s Companies, Inc. has a fifty-two week low of $210.10 and a fifty-two week high of $287.01. The company has a market cap of $147.78 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 2.16 and a beta of 1.11. The stock has a fifty day moving average price of $259.15 and a 200-day moving average price of $256.97.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. Lowe’s Companies’s payout ratio is 38.37%.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LOW. Royal Bank of Canada lifted their price objective on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Mizuho boosted their price target on Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Bank of America raised their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Truist Financial decreased their target price on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $280.85.

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.