Asset Advisors Investment Management LLC Buys Shares of 870 Lowe’s Companies, Inc. (NYSE:LOW)

Asset Advisors Investment Management LLC purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 870 shares of the home improvement retailer’s stock, valued at approximately $236,000.

Several other large investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after purchasing an additional 2,399,897 shares during the last quarter. State Street Corp lifted its stake in shares of Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after buying an additional 460,851 shares in the last quarter. Geode Capital Management LLC boosted its position in Lowe’s Companies by 1.6% during the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after acquiring an additional 187,473 shares during the last quarter. Legal & General Group Plc grew its stake in Lowe’s Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Lowe’s Companies by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock valued at $912,508,000 after acquiring an additional 39,953 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Down 1.6 %

Shares of NYSE LOW opened at $263.50 on Friday. The stock has a market cap of $148.79 billion, a P/E ratio of 21.98, a PEG ratio of 2.25 and a beta of 1.09. The business’s fifty day simple moving average is $270.80 and its 200-day simple moving average is $248.90. Lowe’s Companies, Inc. has a 12-month low of $206.08 and a 12-month high of $287.01.

Insiders Place Their Bets

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction on Wednesday, November 27th. The stock was 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 of the company’s stock, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The stock was 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 directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on LOW shares. Sanford C. Bernstein boosted their target price on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Melius Research started coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price for the company. JPMorgan Chase & Co. reduced their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Finally, Stifel Nicolaus upped their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a report on Wednesday. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $280.85.

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.