Perigon Wealth Management LLC Increases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Perigon Wealth Management LLC increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 131.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,073 shares of the home improvement retailer’s stock after purchasing an additional 4,587 shares during the quarter. Perigon Wealth Management LLC’s holdings in Lowe’s Companies were worth $2,089,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LOW. Crew Capital Management Ltd. grew its holdings in shares of Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after acquiring an additional 37 shares during the period. Summit Place Financial Advisors LLC lifted its position in Lowe’s Companies by 2.8% during the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after purchasing an additional 37 shares in the last quarter. Clean Yield Group lifted its position in Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after purchasing an additional 38 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in Lowe’s Companies by 0.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after purchasing an additional 40 shares in the last quarter. Finally, Chapin Davis Inc. lifted its position in Lowe’s Companies by 1.3% during the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after purchasing an additional 41 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LOW. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Truist Financial lowered their target price on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. TD Cowen lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Guggenheim restated a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Finally, Stifel Nicolaus boosted their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $280.85.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $261.72 on Thursday. The business’s 50 day moving average is $259.15 and its two-hundred day moving average is $256.97. Lowe’s Companies, Inc. has a 1-year low of $210.10 and a 1-year high of $287.01. The stock has a market capitalization of $147.78 billion, a P/E ratio of 21.83, a PEG ratio of 2.16 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.76%. Lowe’s Companies’s 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.