Bridgewater Associates LP Sells 93,313 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Bridgewater Associates LP cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 72.1% in the third quarter, HoldingsChannel reports. The fund owned 36,130 shares of the home improvement retailer’s stock after selling 93,313 shares during the period. Bridgewater Associates LP’s holdings in Lowe’s Companies were worth $9,786,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. StoneX Group Inc. purchased a new stake in shares of Lowe’s Companies in the third quarter worth $2,713,000. HM Payson & Co. increased its stake in Lowe’s Companies by 1.1% in the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after buying an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC raised its holdings in Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares during the period. AMF Tjanstepension AB lifted its position in shares of Lowe’s Companies by 14.4% in the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after acquiring an additional 20,123 shares in the last quarter. Finally, Claro Advisors LLC boosted its stake in shares of Lowe’s Companies by 2,246.3% in the third quarter. Claro Advisors LLC now owns 40,521 shares of the home improvement retailer’s stock worth $10,975,000 after acquiring an additional 38,794 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LOW. Gordon Haskett decreased their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. DA Davidson boosted their target price on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Piper Sandler lifted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Melius Research initiated coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target on the stock. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Ten investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $277.92.

Insider Activity

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 41.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $273.19 on Friday. The firm has a market capitalization of $154.98 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 2.31 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $196.32 and a 1-year high of $287.01. The company’s 50-day moving average is $270.04 and its 200 day moving average is $245.85.

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.