Avanza Fonder AB Takes $14.11 Million Position in Lowe's Companies, Inc. (NYSE:LOW)

Avanza Fonder AB bought a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 57,182 shares of the home improvement retailer's stock, valued at approximately $14,113,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in Lowe's Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer's stock worth $7,045,006,000 after acquiring an additional 2,399,897 shares during the period. International Assets Investment Management LLC increased its stake in shares of Lowe's Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer's stock worth $578,256,000 after purchasing an additional 2,027,668 shares in the last quarter. Applied Finance Capital Management LLC increased its stake in shares of Lowe's Companies by 387.7% in the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer's stock worth $219,761,000 after purchasing an additional 645,017 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Lowe's Companies by 170.5% during the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer's stock valued at $162,178,000 after buying an additional 463,645 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Lowe's Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer's stock valued at $6,774,948,000 after buying an additional 460,851 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Stock Up 1.0 %

Shares of LOW stock traded up $2.61 on Friday, hitting $261.39. The stock had a trading volume of 2,758,504 shares, compared to its average volume of 1,989,226. Lowe's Companies, Inc. has a one year low of $209.55 and a one year high of $287.01. The business has a 50 day moving average price of $260.10 and a 200 day moving average price of $254.31. The company has a market cap of $147.59 billion, a PE ratio of 21.80, a P/E/G ratio of 2.08 and a beta of 1.11.

Lowe's Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders 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 dividend yield of 1.76%. Lowe's Companies's dividend payout ratio is presently 38.37%.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe's Companies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the transaction, the executive vice president now owns 16,703 shares of the company's stock, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company's stock.

Analyst Ratings Changes

LOW has been the topic of a number of recent analyst reports. Sanford C. Bernstein raised their price target on Lowe's Companies from $301.00 to $304.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Mizuho lifted their target price on Lowe's Companies from $282.00 to $305.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Piper Sandler upped their price target on Lowe's Companies from $262.00 to $307.00 and gave the stock an "overweight" rating in a research note on Monday, September 30th. Barclays lifted their price objective on shares of 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. Finally, Wells Fargo & Company upped their target price on shares of Lowe's Companies from $280.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus 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.