OMC Financial Services LTD Raises Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

OMC Financial Services LTD increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,956 shares of the home improvement retailer’s stock after purchasing an additional 289 shares during the period. Lowe’s Companies accounts for about 1.9% of OMC Financial Services LTD’s holdings, making the stock its 14th biggest holding. OMC Financial Services LTD’s holdings in Lowe’s Companies were worth $4,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. StoneX Group Inc. acquired a new stake in shares of Lowe’s Companies in the third quarter valued at about $2,713,000. Principal Financial Group Inc. boosted its holdings in Lowe’s Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $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 fourth 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 grew its position in Lowe’s Companies by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after acquiring an additional 4,435 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its stake 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 valued at $6,988,000 after purchasing an additional 21,375 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Down 1.9 %

Shares of NYSE LOW opened at $252.17 on Monday. The stock has a market cap of $142.39 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.04 and a beta of 1.11. The firm’s 50-day simple moving average is $257.24 and its 200 day simple moving average is $257.92. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.82%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

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 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 owns 16,703 shares in the company, 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 can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Mizuho upped their target price on shares of Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Truist Financial reduced their price target on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Barclays raised their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $280.85.

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.