Rakuten Investment Management Inc. raised its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,604 shares of the home improvement retailer’s stock after buying an additional 8,353 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Lowe’s Companies were worth $20,121,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its holdings in shares of Lowe’s Companies by 3.5% in the 4th quarter. Natixis Advisors LLC now owns 630,956 shares of the home improvement retailer’s stock valued at $152,161,000 after buying an additional 21,119 shares during the last quarter. Bridges Investment Management Inc. lifted its stake in Lowe’s Companies by 6.1% in the fourth quarter. Bridges Investment Management Inc. now owns 446,441 shares of the home improvement retailer’s stock valued at $107,664,000 after acquiring an additional 25,609 shares during the last quarter. Kathmere Capital Management LLC grew its position in shares of Lowe’s Companies by 133.9% in the 1st quarter. Kathmere Capital Management LLC now owns 9,402 shares of the home improvement retailer’s stock valued at $2,222,000 after acquiring an additional 5,383 shares during the period. Glenview Trust Co grew its position in shares of Lowe’s Companies by 9.0% in the 4th quarter. Glenview Trust Co now owns 207,797 shares of the home improvement retailer’s stock valued at $50,112,000 after acquiring an additional 17,225 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Lowe’s Companies by 2.3% during the 4th quarter. LPL Financial LLC now owns 993,332 shares of the home improvement retailer’s stock worth $239,552,000 after purchasing an additional 22,175 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.
Lowe’s Companies Stock Up 0.7%
Lowe’s Companies stock opened at $208.20 on Friday. The company’s 50-day moving average price is $215.10 and its two-hundred day moving average price is $230.79. The stock has a market cap of $116.74 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.75 and a beta of 0.86. Lowe’s Companies, Inc. has a twelve month low of $199.40 and a twelve month high of $293.06.
Insider Buying and Selling
In related news, EVP Janice Dupre sold 14,150 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $221.90, for a total transaction of $3,139,885.00. Following the completion of the sale, the executive vice president directly owned 39,785 shares of the company’s stock, valued at approximately $8,828,291.50. This trade represents a 26.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Juliette Williams Pryor sold 9,330 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $224.81, for a total value of $2,097,477.30. Following the completion of the sale, the executive vice president owned 16,142 shares of the company’s stock, valued at $3,628,883.02. This trade represents a 36.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 25,980 shares of company stock valued at $5,796,937. Insiders own 0.29% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on LOW. Citigroup reduced their price target on Lowe’s Companies from $267.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, August 20th. Sanford C. Bernstein reduced their target price on Lowe’s Companies from $303.00 to $281.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Guggenheim decreased their target price on Lowe’s Companies from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, August 21st. Bank of America dropped their price target on Lowe’s Companies from $260.00 to $257.00 and set a “neutral” rating on the stock in a research note on Thursday, May 21st. Finally, DA Davidson reaffirmed a “neutral” rating and set a $245.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 19th. Twenty-three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.53.
Get Our Latest Analysis on Lowe’s Companies
Lowe’s Companies Profile
Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.
Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.
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