Weiss Asset Management LP Purchases Shares of 59,600 Lowe’s Companies, Inc. (NYSE:LOW)

Weiss Asset Management LP acquired a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 59,600 shares of the home improvement retailer’s stock, valued at approximately $16,143,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. StoneX Group Inc. purchased a new stake in shares of Lowe’s Companies during the 3rd quarter worth about $2,713,000. HM Payson & Co. boosted its position in Lowe’s Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after purchasing an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC grew its holdings in Lowe’s Companies by 12.7% in the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after purchasing an additional 2,889 shares during the period. AMF Tjanstepension AB increased its position in shares of Lowe’s Companies by 14.4% in the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after buying an additional 20,123 shares in the last quarter. Finally, Claro Advisors LLC raised its stake in shares of Lowe’s Companies by 2,246.3% during the 3rd quarter. Claro Advisors LLC now owns 40,521 shares of the home improvement retailer’s stock worth $10,975,000 after buying an additional 38,794 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Quonta D. Vance sold 7,198 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,697 shares of company stock valued at $5,214,586. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $270.06 on Friday. The stock’s 50-day simple moving average is $270.88 and its 200-day simple moving average is $247.22. The firm has a market capitalization of $152.49 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 2.30 and a beta of 1.09. Lowe’s Companies, Inc. has a fifty-two week low of $205.84 and a fifty-two week high of $287.01.

Wall Street Analyst Weigh In

LOW has been the topic of a number of research analyst reports. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price target for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Mizuho boosted their target price on shares of Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. UBS Group raised their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Gordon Haskett reduced their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Finally, Stifel Nicolaus increased their price objective on Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Company 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.