Financial Counselors Inc. Cuts Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Financial Counselors Inc. reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 49.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,549 shares of the home improvement retailer’s stock after selling 27,190 shares during the quarter. Financial Counselors Inc.’s holdings in Lowe’s Companies were worth $7,462,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in shares of Lowe’s Companies during the first quarter valued at approximately $814,000. Cetera Investment Advisers grew its holdings in Lowe’s Companies by 180.8% in the 1st quarter. Cetera Investment Advisers now owns 247,721 shares of the home improvement retailer’s stock worth $63,102,000 after acquiring an additional 159,502 shares during the last quarter. Garde Capital Inc. bought a new stake in Lowe’s Companies in the 1st quarter worth $136,000. Soltis Investment Advisors LLC increased its position in shares of Lowe’s Companies by 5.4% in the first quarter. Soltis Investment Advisors LLC now owns 1,638 shares of the home improvement retailer’s stock valued at $417,000 after acquiring an additional 84 shares during the period. Finally, Pathway Financial Advisers LLC bought a new position in shares of Lowe’s Companies during the first quarter valued at about $328,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.5 %

Lowe’s Companies stock opened at $273.19 on Friday. Lowe’s Companies, Inc. has a 12 month low of $196.32 and a 12 month high of $287.01. The company has a market capitalization of $154.98 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. The business’s fifty day simple moving average is $270.04 and its two-hundred day simple moving average is $245.85.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial raised their target price on Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Stifel Nicolaus lifted their price objective on Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. 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 note on Wednesday, August 21st. Barclays boosted 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 report on Wednesday, November 20th. Finally, Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their target price for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Insider Transactions at Lowe’s Companies

In other news, 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 transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 13,214 shares in the company, 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 insiders.

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.