Banque Pictet & Cie SA Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Banque Pictet & Cie SA raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,726 shares of the home improvement retailer’s stock after purchasing an additional 4,452 shares during the period. Banque Pictet & Cie SA’s holdings in Lowe’s Companies were worth $11,285,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in Lowe’s Companies by 10.2% during the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares during the period. State Street Corp lifted its stake in shares of Lowe’s Companies by 1.9% during the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after purchasing an additional 460,851 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Lowe’s Companies by 1.6% during the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after acquiring an additional 187,473 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Lowe’s Companies by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock valued at $912,508,000 after purchasing an additional 39,953 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its holdings in shares of Lowe’s Companies by 1.6% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock valued at $634,700,000 after buying an additional 36,054 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LOW shares. Royal Bank of Canada boosted their target price on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Evercore ISI lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Mizuho raised their target price on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Sanford C. Bernstein raised their target price on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Finally, Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $281.64.

Lowe’s Companies Stock Up 1.0 %

Shares of LOW opened at $252.77 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The firm’s 50 day moving average price is $256.15 and its 200 day moving average price is $258.33. The company has a market cap of $142.73 billion, a P/E ratio of 21.08, a PEG ratio of 2.04 and a beta of 1.11.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

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.