OLD National Bancorp IN Increases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

OLD National Bancorp IN boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,802 shares of the home improvement retailer’s stock after acquiring an additional 390 shares during the quarter. OLD National Bancorp IN’s holdings in Lowe’s Companies were worth $2,666,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Crew Capital Management Ltd. raised its position in Lowe’s Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after purchasing an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC raised its position in Lowe’s Companies by 2.8% in the 3rd 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 raised its position in shares of Lowe’s Companies by 2.4% during the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after acquiring an additional 38 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Lowe’s Companies by 0.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after acquiring an additional 40 shares in the last quarter. Finally, Chapin Davis Inc. raised its position in shares of Lowe’s Companies by 1.3% during the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

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 value of $1,974,915.26. Following the completion of the transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LOW shares. 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 report on Thursday, December 12th. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. DA Davidson lifted their price target on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Barclays lifted their price target on 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. Finally, Mizuho lifted their target price on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $264.12 on Friday. The company has a market capitalization of $149.13 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 2.19 and a beta of 1.11. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The business has a 50-day moving average of $259.13 and a 200-day moving average of $257.00.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, January 22nd. 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.