HighTower Advisors LLC Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

HighTower Advisors LLC reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 822,653 shares of the home improvement retailer’s stock after selling 21,875 shares during the period. HighTower Advisors LLC’s holdings in Lowe’s Companies were worth $222,881,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stephens Consulting LLC grew its stake in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the period. JNBA Financial Advisors boosted its holdings in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 100 shares during the last quarter. MFA Wealth Advisors LLC grew its position in Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 70 shares during the period. Kimelman & Baird LLC purchased a new stake in Lowe’s Companies during the second quarter worth about $37,000. Finally, Tsfg LLC raised its position in Lowe’s Companies by 128.2% in the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction 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 owns 16,703 shares in the company, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,697 shares of company stock valued at $5,214,586 in the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $272.05 on Tuesday. Lowe’s Companies, Inc. has a 52-week low of $203.72 and a 52-week high of $287.01. The stock has a fifty day moving average of $270.29 and a 200 day moving average of $246.30. The firm has a market capitalization of $153.61 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 2.28 and a beta of 1.10.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Melius Research initiated coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective on the stock. Evercore ISI raised their target price on Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a research report on Wednesday, November 20th. Truist Financial boosted their target price on Lowe’s Companies from $307.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley increased their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $277.92.

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.