Merit Financial Group LLC Grows Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Merit Financial Group LLC increased its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,293 shares of the home improvement retailer's stock after purchasing an additional 2,436 shares during the quarter. Merit Financial Group LLC's holdings in Lowe's Companies were worth $4,761,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LOW. Intech Investment Management LLC raised its position in Lowe's Companies by 1.7% in the second quarter. Intech Investment Management LLC now owns 17,829 shares of the home improvement retailer's stock worth $3,931,000 after acquiring an additional 298 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Lowe's Companies by 52.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 508,678 shares of the home improvement retailer's stock worth $112,143,000 after purchasing an additional 176,048 shares during the period. AE Wealth Management LLC lifted its stake in Lowe's Companies by 52.7% in the second quarter. AE Wealth Management LLC now owns 18,268 shares of the home improvement retailer's stock valued at $4,027,000 after purchasing an additional 6,305 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Lowe's Companies by 1.2% during the second quarter. Pacer Advisors Inc. now owns 41,091 shares of the home improvement retailer's stock valued at $9,059,000 after purchasing an additional 488 shares during the period. Finally, Sei Investments Co. grew its holdings in Lowe's Companies by 2.0% during the second quarter. Sei Investments Co. now owns 480,491 shares of the home improvement retailer's stock valued at $105,927,000 after purchasing an additional 9,228 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe's Companies Stock Performance

LOW traded up $2.61 during midday trading 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 1 year low of $209.55 and a 1 year high of $287.01. The business has a fifty day moving average of $260.10 and a 200 day moving average of $254.60. The company has a market cap of $147.59 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11.

Lowe's Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 22nd. 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 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 sale, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LOW. Evercore ISI upped their price target on Lowe's Companies from $270.00 to $290.00 and gave the company an "in-line" rating in a research report on Thursday, December 12th. Mizuho upped their price objective on shares of Lowe's Companies from $282.00 to $305.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Barclays increased their target price on shares of Lowe's Companies from $229.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 20th. StockNews.com upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Wedbush reiterated a "neutral" rating and issued a $250.00 price objective on shares of Lowe's Companies in a research note on Thursday, December 12th. 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 data from MarketBeat, Lowe's Companies has a consensus rating of "Moderate Buy" and a consensus target price of $280.85.

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.