Destination Wealth Management Acquires New Shares in Lowe’s Companies, Inc. (NYSE:LOW)

Destination Wealth Management bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 819 shares of the home improvement retailer’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in Lowe’s Companies during the 3rd quarter worth $27,000. Stephens Consulting LLC increased its stake in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares during the period. JNBA Financial Advisors raised its holdings in Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. MFA Wealth Advisors LLC boosted its position in Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in Lowe’s Companies during the 2nd quarter worth approximately $37,000. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Bank of America raised their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Stifel Nicolaus increased their target price on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada boosted their target price on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Stock Down 1.6 %

LOW stock opened at $263.50 on Friday. The stock’s 50 day moving average is $270.80 and its 200-day moving average is $248.90. Lowe’s Companies, Inc. has a twelve month low of $206.08 and a twelve month high of $287.01. The firm has a market capitalization of $148.79 billion, a PE ratio of 21.98, a P/E/G ratio of 2.25 and a beta of 1.09.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction on Wednesday, November 27th. The stock was 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 owns 16,703 shares of the company’s stock, valued at $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 owned by corporate insiders.

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.