Fifth Third Wealth Advisors LLC Purchases 21,375 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Fifth Third Wealth Advisors LLC increased its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 308.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,315 shares of the home improvement retailer's stock after purchasing an additional 21,375 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Lowe's Companies were worth $6,988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Lowe's Companies in the third quarter valued at $27,000. JNBA Financial Advisors grew its position in shares of Lowe's Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer's stock valued at $32,000 after acquiring an additional 100 shares during the period. MFA Wealth Advisors LLC increased its stake in shares of Lowe's Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer's stock worth $35,000 after purchasing an additional 70 shares during the last quarter. Kimelman & Baird LLC bought a new stake in shares of Lowe's Companies in the 2nd quarter valued at about $37,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Lowe's Companies in the 4th quarter valued at about $46,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Loop Capital upgraded Lowe's Companies from a "hold" rating to a "buy" rating and lifted their price target for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Mizuho boosted their target price on Lowe's Companies from $282.00 to $305.00 and gave the stock an "outperform" rating in a report on Thursday, December 12th. Oppenheimer upgraded Lowe's Companies from a "market perform" rating to an "outperform" rating and increased their price target for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Truist Financial reduced their price objective on shares of Lowe's Companies from $310.00 to $307.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Finally, Melius Research initiated coverage on shares of Lowe's Companies in a report on Monday, September 23rd. They issued a "buy" rating and a $290.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Lowe's Companies currently has a consensus rating of "Moderate Buy" and a consensus price target of $280.85.

Lowe's Companies Trading Up 2.2 %

LOW stock traded up $5.54 during mid-day trading on Wednesday, hitting $256.73. The stock had a trading volume of 2,878,944 shares, compared to its average volume of 2,392,622. The firm has a fifty day simple moving average of $260.54 and a 200 day simple moving average of $253.93. Lowe's Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01. The firm has a market capitalization of $144.96 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.20 and a beta of 1.11.

Lowe's Companies Dividend Announcement

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 given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.79%. Lowe's Companies's dividend payout ratio is currently 38.37%.

Insiders Place Their Bets

In other Lowe's Companies news, EVP Quonta D. Vance sold 7,198 shares of Lowe's Companies stock in a transaction dated 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 transaction, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.26% of the company's stock.

Lowe's Companies 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.