Retirement Systems of Alabama Purchases 178,016 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Retirement Systems of Alabama raised its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 143.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 301,891 shares of the home improvement retailer's stock after purchasing an additional 178,016 shares during the period. Retirement Systems of Alabama owned 0.05% of Lowe's Companies worth $74,507,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Welch Group LLC acquired a new position in Lowe's Companies in the 4th quarter worth approximately $239,000. Commonwealth Financial Services LLC raised its holdings in Lowe's Companies by 20.9% during the fourth quarter. Commonwealth Financial Services LLC now owns 2,408 shares of the home improvement retailer's stock worth $594,000 after purchasing an additional 416 shares in the last quarter. Rockline Wealth Management LLC raised its stake in Lowe's Companies by 4.7% during the 4th quarter. Rockline Wealth Management LLC now owns 15,156 shares of the home improvement retailer's stock valued at $3,740,000 after acquiring an additional 679 shares during the last quarter. Flavin Financial Services Inc. purchased a new position in shares of Lowe's Companies in the 4th quarter valued at about $492,000. Finally, Calamos Wealth Management LLC raised its stake in Lowe's Companies by 2.3% in the 4th quarter. Calamos Wealth Management LLC now owns 4,911 shares of the home improvement retailer's stock valued at $1,212,000 after purchasing an additional 109 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on LOW. Guggenheim reiterated a "buy" rating and issued a $300.00 price target on shares of Lowe's Companies in a research note on Thursday, December 12th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a report on Thursday, December 12th. Truist Financial reduced their target price on shares of Lowe's Companies from $310.00 to $307.00 and set a "buy" rating for the company in a report on Thursday, December 12th. Stifel Nicolaus increased their target price on shares of Lowe's Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a research report on Wednesday, December 11th. Finally, TD Cowen increased their price objective on Lowe's Companies from $270.00 to $290.00 and gave the company a "hold" rating in a report on Monday, October 28th. Ten research analysts have rated the stock with a hold rating and seventeen have issued 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.

Insider Activity at Lowe's Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the firm's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

Lowe's Companies Stock Performance

Shares of NYSE LOW traded up $1.05 during trading on Wednesday, hitting $258.28. 1,693,226 shares of the company traded hands, compared to its average volume of 2,187,792. The firm has a market capitalization of $145.84 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.18 and a beta of 1.11. The business's fifty day moving average is $258.29 and its 200 day moving average is $257.71. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders 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 dividend yield of 1.78%. Lowe's Companies's dividend payout ratio is currently 38.37%.

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.