Martingale Asset Management L P Sells 5,637 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Martingale Asset Management L P lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 30.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,106 shares of the home improvement retailer’s stock after selling 5,637 shares during the period. Martingale Asset Management L P’s holdings in Lowe’s Companies were worth $3,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after acquiring an additional 2,399,897 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after purchasing an additional 2,027,668 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after purchasing an additional 1,199,100 shares during the last quarter. Applied Finance Capital Management LLC increased its holdings in shares of Lowe’s Companies by 387.7% in the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after purchasing an additional 645,017 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Lowe’s Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after purchasing an additional 463,645 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

LOW opened at $272.43 on Friday. The stock has a market cap of $154.55 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 2.29 and a beta of 1.10. The stock’s 50 day moving average price is $270.29 and its 200-day moving average price is $246.13. Lowe’s Companies, Inc. has a one year low of $196.32 and a one year high of $287.01.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Gordon Haskett reduced their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Melius Research assumed coverage on Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price on the stock. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Morgan Stanley lifted their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a report on Tuesday, November 19th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,697 shares of company stock worth $5,214,586. Company insiders own 0.26% of the company’s stock.

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.