Sumitomo Life Insurance Co. Has $1.67 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Sumitomo Life Insurance Co. trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,749 shares of the home improvement retailer’s stock after selling 172 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Lowe’s Companies were worth $1,666,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of LOW. StoneX Group Inc. bought a new stake in Lowe’s Companies during the third quarter valued at about $2,713,000. Principal Financial Group Inc. lifted its position in shares of Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after purchasing an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in Lowe’s Companies by 288.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after purchasing an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Lowe’s Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after purchasing an additional 4,435 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its position in Lowe’s Companies by 308.0% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock worth $6,988,000 after buying an additional 21,375 shares during the period. 74.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. DA Davidson boosted their price objective on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Royal Bank of Canada increased 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. Finally, Barclays boosted their price target on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Price Performance

LOW stock opened at $261.72 on Thursday. The stock has a market capitalization of $147.78 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 2.16 and a beta of 1.11. The business has a fifty day moving average price of $259.15 and a 200 day moving average price of $256.97. Lowe’s Companies, Inc. has a fifty-two week low of $210.10 and a fifty-two week high of $287.01.

Lowe’s Companies Dividend Announcement

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 given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.76%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Insiders Place Their Bets

In other news, EVP Quonta D. Vance sold 7,198 shares of the 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 sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

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.