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

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

Other hedge funds have also modified their holdings of the company. JNBA Financial Advisors increased its stake in Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. MFA Wealth Advisors LLC boosted its position in shares of Lowe’s Companies by 118.6% in 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 in the last quarter. Stephens Consulting LLC grew its stake in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in Lowe’s Companies in the 2nd quarter valued at about $37,000. Finally, Tsfg LLC increased its holdings in Lowe’s Companies by 128.2% during the 3rd 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 owned by institutional investors and hedge funds.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value 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 represents a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. 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. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LOW has been the topic of several research reports. Mizuho increased their price target on shares of Lowe’s Companies from $280.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Melius Research began coverage on Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective on the stock. DA Davidson raised their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Finally, Barclays upped their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Trading Down 0.8 %

Shares of NYSE LOW opened at $270.06 on Friday. Lowe’s Companies, Inc. has a 12-month low of $205.84 and a 12-month high of $287.01. The company has a market cap of $152.49 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 2.30 and a beta of 1.09. The stock’s 50 day simple moving average is $270.88 and its 200 day simple moving average is $247.22.

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.