Benedict Financial Advisors Inc. Raises Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Benedict Financial Advisors Inc. boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,707 shares of the home improvement retailer’s stock after buying an additional 344 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Lowe’s Companies were worth $2,889,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. StoneX Group Inc. acquired a new stake in Lowe’s Companies in the 3rd quarter valued at approximately $2,713,000. Principal Financial Group Inc. boosted its holdings 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 acquiring an additional 24,812 shares during the period. Miracle Mile Advisors LLC grew its position in Lowe’s Companies by 288.6% in 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 acquiring an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Lowe’s Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after purchasing an additional 4,435 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of Lowe’s Companies by 308.0% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock worth $6,988,000 after purchasing an additional 21,375 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $252.17 on Friday. The company has a market cap of $142.39 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 2.04 and a beta of 1.11. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The business has a fifty day moving average of $257.24 and a two-hundred day moving average of $257.78.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd were issued a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.82%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Evercore ISI boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Barclays increased their price target on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein boosted their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, Truist Financial decreased their price target 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. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

Insider Activity

In related news, EVP Quonta D. Vance sold 7,198 shares of the firm’s 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 transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

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.