Innova Wealth Partners Invests $321,000 in Lowe’s Companies, Inc. (NYSE:LOW)

Innova Wealth Partners bought a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,300 shares of the home improvement retailer’s stock, valued at approximately $321,000.

Several other institutional investors also recently bought and sold shares of LOW. StoneX Group Inc. acquired a new stake in shares of Lowe’s Companies in the 3rd quarter worth $2,713,000. Principal Financial Group Inc. raised its stake in Lowe’s Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after buying an additional 24,812 shares during the last quarter. HM Payson & Co. boosted its holdings in Lowe’s Companies by 1.1% in the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after acquiring an additional 2,322 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Lowe’s Companies during the third quarter worth about $16,143,000. Finally, Daymark Wealth Partners LLC increased its holdings in shares of Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction dated 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 directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on LOW shares. Piper Sandler lifted their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Wells Fargo & Company lifted their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Guggenheim reissued a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Sanford C. Bernstein raised their target price on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, Bank of America boosted their price target on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Trading Down 1.3 %

Shares of LOW stock opened at $246.46 on Wednesday. Lowe’s Companies, Inc. has a 12-month low of $209.55 and a 12-month high of $287.01. The business’s 50 day moving average is $262.10 and its two-hundred day moving average is $252.97. The company has a market capitalization of $139.16 billion, a P/E ratio of 20.56, a P/E/G ratio of 2.20 and a beta of 1.11.

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 paid a $1.15 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.87%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

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.