Eastern Bank Purchases 2,195 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Eastern Bank increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,234 shares of the home improvement retailer’s stock after purchasing an additional 2,195 shares during the period. Eastern Bank’s holdings in Lowe’s Companies were worth $34,610,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Forza Wealth Management LLC raised its position in shares of Lowe’s Companies by 13.0% during the 4th quarter. Forza Wealth Management LLC now owns 3,702 shares of the home improvement retailer’s stock valued at $914,000 after purchasing an additional 426 shares during the period. Accelerate Investment Advisors LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $225,000. Cooper Financial Group raised its position in shares of Lowe’s Companies by 20.0% during the 4th quarter. Cooper Financial Group now owns 1,511 shares of the home improvement retailer’s stock valued at $373,000 after purchasing an additional 252 shares during the period. Wedmont Private Capital raised its position in shares of Lowe’s Companies by 25.8% during the 4th quarter. Wedmont Private Capital now owns 8,259 shares of the home improvement retailer’s stock valued at $2,047,000 after purchasing an additional 1,693 shares during the period. Finally, Kieckhefer Group LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $46,000. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Up 0.5 %

LOW traded up $1.24 on Monday, reaching $249.14. 1,638,595 shares of the company traded hands, compared to its average volume of 2,206,191. Lowe’s Companies, Inc. has a one year low of $209.55 and a one year high of $287.01. The firm has a fifty day simple moving average of $261.23 and a two-hundred day simple moving average of $253.51. The company has a market cap of $140.68 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The firm also recently declared 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 is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.85%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Transactions at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the business’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 completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

LOW has been the subject of several research analyst reports. Evercore ISI raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research note on Thursday, December 12th. Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Royal Bank of Canada raised their target price on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Piper Sandler raised their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, DA Davidson raised their target price on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Eleven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average 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.