Lowe’s Companies, Inc. (NYSE:LOW) Stock Position Raised by Investment Management Corp of Ontario

Investment Management Corp of Ontario increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 20.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 36,303 shares of the home improvement retailer’s stock after buying an additional 6,100 shares during the period. Investment Management Corp of Ontario’s holdings in Lowe’s Companies were worth $9,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction 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 sale, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, 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. Over the last three months, insiders have sold 19,697 shares of company stock worth $5,214,586. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LOW shares. Royal Bank of Canada upped their price target on Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 20th. Piper Sandler increased their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and upped their price target for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Finally, UBS Group upped their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Stock Performance

Shares of LOW opened at $272.05 on Tuesday. The firm has a 50 day moving average price of $270.29 and a 200-day moving average price of $246.30. Lowe’s Companies, Inc. has a fifty-two week low of $203.72 and a fifty-two week high of $287.01. The firm has a market cap of $153.61 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.28 and a beta of 1.10.

About Lowe’s Companies

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.