Neo Ivy Capital Management Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Neo Ivy Capital Management decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 77.3% during the third quarter, Holdings Channel.com reports. The fund owned 3,824 shares of the home improvement retailer’s stock after selling 12,992 shares during the quarter. Neo Ivy Capital Management’s holdings in Lowe’s Companies were worth $1,036,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crew Capital Management Ltd. boosted its stake in shares of Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after buying an additional 37 shares during the last quarter. Summit Place Financial Advisors LLC boosted its position in Lowe’s Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after purchasing an additional 37 shares in the last quarter. Clean Yield Group grew its stake in shares of Lowe’s Companies by 2.4% during the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after purchasing an additional 38 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Lowe’s Companies by 0.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after purchasing an additional 40 shares in the last quarter. Finally, Drive Wealth Management LLC lifted its stake in shares of Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 41 shares during the period. 74.06% of the stock is owned by institutional investors.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred 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 $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on 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 owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was 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 currently owned by company insiders.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $267.91 on Thursday. The firm has a market cap of $151.28 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 2.29 and a beta of 1.09. The stock’s 50-day moving average is $271.02 and its 200-day moving average is $248.66. Lowe’s Companies, Inc. has a one year low of $205.84 and a one year high of $287.01.

Wall Street Analyst Weigh In

Several analysts recently commented on LOW shares. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Royal Bank of Canada raised their target price on Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 20th. Stifel Nicolaus upped their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday. Morgan Stanley raised their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, UBS Group boosted their price objective on 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 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 company has an average rating of “Moderate Buy” and an average price target of $278.32.

Lowe’s Companies 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.