Zurcher Kantonalbank Zurich Cantonalbank Reduces Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 53.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 136,193 shares of the home improvement retailer’s stock after selling 154,613 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lowe’s Companies were worth $36,888,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. StoneX Group Inc. purchased a new stake in Lowe’s Companies during the 3rd quarter worth about $2,713,000. HM Payson & Co. grew 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 valued at $58,409,000 after purchasing an additional 2,322 shares during the period. Daymark Wealth Partners LLC increased its holdings in shares of Lowe’s Companies by 12.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after buying an additional 2,889 shares during the last quarter. AMF Tjanstepension AB increased its stake in Lowe’s Companies by 14.4% during the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after acquiring an additional 20,123 shares during the last quarter. Finally, Claro Advisors LLC raised its holdings in Lowe’s Companies by 2,246.3% in the third quarter. Claro Advisors LLC now owns 40,521 shares of the home improvement retailer’s stock valued at $10,975,000 after buying an additional 38,794 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.5 %

Shares of Lowe’s Companies stock opened at $273.19 on Friday. Lowe’s Companies, Inc. has a 12-month low of $196.32 and a 12-month high of $287.01. The stock has a market capitalization of $154.98 billion, a P/E ratio of 22.78, a PEG ratio of 2.29 and a beta of 1.10. The stock has a 50 day moving average price of $270.04 and a two-hundred day moving average price of $245.85.

Wall Street Analyst Weigh In

LOW has been the subject of several analyst reports. Piper Sandler upped their target price on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Evercore ISI upped their target price on Lowe’s Companies from $255.00 to $270.00 and gave the company an “in-line” rating in a report on Wednesday, November 20th. Gordon Haskett reduced their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and upped their target price for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Finally, Truist Financial increased their price objective on Lowe’s Companies from $307.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $277.92.

Insiders Place Their Bets

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. Company 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.