Franklin Resources Inc. Has $927.43 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Franklin Resources Inc. lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,303,642 shares of the home improvement retailer’s stock after selling 313,259 shares during the quarter. Franklin Resources Inc.’s holdings in Lowe’s Companies were worth $927,431,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Asset Advisors Investment Management LLC acquired a new stake in shares of Lowe’s Companies during the third quarter worth about $236,000. Peapack Gladstone Financial Corp raised its position 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% during the third quarter. Synovus Financial Corp now owns 49,473 shares of the home improvement retailer’s stock worth $13,399,000 after purchasing an additional 12,154 shares during the period. Tidal Investments LLC raised its position in shares of Lowe’s Companies by 14.8% during the third quarter. Tidal Investments LLC now owns 43,307 shares of the home improvement retailer’s stock worth $11,730,000 after purchasing an additional 5,595 shares during the period. Finally, Destination Wealth Management acquired a new stake in shares of Lowe’s Companies during the third quarter worth about $222,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies 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 completion of the transaction, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Trading Down 1.6 %

NYSE:LOW opened at $263.50 on Friday. The stock has a market cap of $148.79 billion, a P/E ratio of 21.98, a PEG ratio of 2.25 and a beta of 1.09. The stock has a 50 day simple moving average of $270.80 and a 200 day simple moving average of $248.90. Lowe’s Companies, Inc. has a 1-year low of $206.08 and a 1-year high of $287.01.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LOW shares. Royal Bank of Canada increased their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a report on Thursday. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. TD Cowen increased their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Bank of America increased their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Truist Financial decreased their price objective on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

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.