iA Global Asset Management Inc. Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

iA Global Asset Management Inc. cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 87.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,912 shares of the home improvement retailer’s stock after selling 100,733 shares during the period. iA Global Asset Management Inc.’s holdings in Lowe’s Companies were worth $4,039,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LOW. FMR LLC raised its position in Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Lowe’s Companies by 1,889.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after buying an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC lifted its stake in Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after acquiring an additional 1,199,100 shares in the last quarter. Applied Finance Capital Management LLC boosted its holdings in Lowe’s Companies by 387.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after acquiring an additional 645,017 shares during the period. Finally, Marshall Wace LLP grew its position in Lowe’s Companies by 170.5% in the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock valued at $162,178,000 after acquiring an additional 463,645 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 1.2 %

Shares of LOW opened at $273.43 on Friday. The company’s 50 day simple moving average is $271.01 and its 200-day simple moving average is $247.69. Lowe’s Companies, Inc. has a 12-month low of $205.84 and a 12-month high of $287.01. The firm has a market cap of $154.39 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.28 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LOW. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Sanford C. Bernstein dropped their price target on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price objective for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. UBS Group lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Gordon Haskett cut their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Insiders Place Their Bets

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 shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’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 completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,697 shares of company stock valued at $5,214,586. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Company 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.