Lord Abbett & CO. LLC Grows Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Lord Abbett & CO. LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 789,013 shares of the home improvement retailer’s stock after buying an additional 2,225 shares during the quarter. Lowe’s Companies accounts for approximately 0.7% of Lord Abbett & CO. LLC’s holdings, making the stock its 29th largest position. Lord Abbett & CO. LLC’s holdings in Lowe’s Companies were worth $213,704,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LOW. Legacy Investment Solutions LLC acquired a new stake in Lowe’s Companies in the 3rd quarter worth about $27,000. Stephens Consulting LLC boosted its position in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the last quarter. JNBA Financial Advisors grew its holdings in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the period. MFA Wealth Advisors LLC grew its holdings in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in Lowe’s Companies during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LOW. Piper Sandler boosted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Barclays upped their price target on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Bank of America lifted their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Truist Financial cut their price target on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Price Performance

NYSE LOW opened at $262.30 on Friday. The firm has a market capitalization of $148.11 billion, a PE ratio of 21.88, a P/E/G ratio of 2.25 and a beta of 1.09. Lowe’s Companies, Inc. has a 12 month low of $209.55 and a 12 month high of $287.01. The company’s 50 day simple moving average is $270.69 and its 200 day simple moving average is $249.22.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the transaction, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the executive vice president now 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 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.