Lowe’s Companies, Inc. (NYSE:LOW) Short Interest Update

Lowe’s Companies, Inc. (NYSE:LOW) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 5,570,000 shares, a decline of 20.3% from the October 31st total of 6,990,000 shares. Based on an average trading volume of 2,230,000 shares, the short-interest ratio is currently 2.5 days. Currently, 1.0% of the company’s shares are short sold.

Insiders Place Their Bets

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 transaction of $1,974,915.26. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,697 shares of company stock worth $5,214,586. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

Several hedge funds have recently bought and sold shares of the stock. Old North State Trust LLC increased its position in Lowe’s Companies by 14.3% during the third quarter. Old North State Trust LLC now owns 1,225 shares of the home improvement retailer’s stock worth $332,000 after acquiring an additional 153 shares during the period. Asset Advisors Investment Management LLC acquired a new position in shares of Lowe’s Companies during the 3rd quarter worth approximately $236,000. Peapack Gladstone Financial Corp increased its holdings in shares of Lowe’s Companies by 1.6% during the third quarter. Peapack Gladstone Financial Corp now owns 153,134 shares of the home improvement retailer’s stock worth $41,476,000 after purchasing an additional 2,442 shares during the period. Synovus Financial Corp raised its position in shares of Lowe’s Companies by 32.6% in the third quarter. Synovus Financial Corp now owns 49,473 shares of the home improvement retailer’s stock valued at $13,399,000 after buying an additional 12,154 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Lowe’s Companies by 14.8% in the third quarter. Tidal Investments LLC now owns 43,307 shares of the home improvement retailer’s stock valued at $11,730,000 after buying an additional 5,595 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on LOW. Barclays increased their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Morgan Stanley increased their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company raised their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $277.92.

Lowe’s Companies Stock Down 0.3 %

Shares of NYSE LOW traded down $0.76 during mid-day trading on Friday, reaching $272.43. 1,526,387 shares of the company were exchanged, compared to its average volume of 2,448,096. Lowe’s Companies has a twelve month low of $196.32 and a twelve month high of $287.01. The stock has a market capitalization of $154.55 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.29 and a beta of 1.10. The company’s 50-day simple moving average is $270.29 and its 200-day simple moving average is $246.13.

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.