BankPlus Wealth Management LLC Purchases New Position in Lowe's Companies, Inc. (NYSE:LOW)

BankPlus Wealth Management LLC acquired a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,025 shares of the home improvement retailer's stock, valued at approximately $500,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LOW. Legacy Investment Solutions LLC bought a new position in shares of Lowe's Companies during the third quarter valued at approximately $27,000. IFS Advisors LLC bought a new position in shares of Lowe's Companies during the fourth quarter valued at approximately $25,000. JNBA Financial Advisors grew its stake in shares of Lowe's Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer's stock valued at $32,000 after buying an additional 100 shares during the last quarter. Winch Advisory Services LLC grew its stake in shares of Lowe's Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer's stock valued at $30,000 after buying an additional 44 shares during the last quarter. Finally, MFA Wealth Advisors LLC grew its stake in shares of Lowe's Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer's stock valued at $35,000 after buying an additional 70 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe's Companies Stock Down 1.4 %

Shares of LOW stock traded down $3.74 on Tuesday, reaching $264.68. 1,458,742 shares of the stock were exchanged, compared to its average volume of 2,313,449. The stock has a market cap of $149.45 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 2.16 and a beta of 1.11. The firm has a 50 day moving average of $259.04 and a two-hundred day moving average of $256.75. Lowe's Companies, Inc. has a 1-year low of $209.81 and a 1-year high of $287.01.

Lowe's Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.74%. Lowe's Companies's dividend payout ratio is currently 38.37%.

Insider Activity at Lowe's Companies

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 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 in the company, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LOW has been the topic of several recent research reports. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research report on Thursday, December 12th. Mizuho raised their target price on Lowe's Companies from $282.00 to $305.00 and gave the company an "outperform" rating in a research report on Thursday, December 12th. Piper Sandler lifted their price objective on Lowe's Companies from $262.00 to $307.00 and gave the stock an "overweight" rating in a report on Monday, September 30th. Truist Financial decreased their target price on shares of Lowe's Companies from $310.00 to $307.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Finally, Stifel Nicolaus lifted their price target on shares of Lowe's Companies from $265.00 to $270.00 and gave the company a "hold" rating in a research report on Wednesday, December 11th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.