Bank of New York Mellon Corp Grows Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Bank of New York Mellon Corp increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,186,720 shares of the home improvement retailer’s stock after purchasing an additional 385,994 shares during the quarter. Bank of New York Mellon Corp’s holdings in Lowe’s Companies were worth $1,033,283,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Lowe’s Companies by 10.2% during the 3rd 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 last quarter. State Street Corp increased its holdings in Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after acquiring an additional 460,851 shares in the last quarter. Geode Capital Management LLC increased its holdings in Lowe’s Companies by 1.6% during the 3rd 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 position in Lowe’s Companies by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after acquiring an additional 39,953 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its holdings in shares of Lowe’s Companies by 1.6% in the third 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 purchasing an additional 36,054 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $236.66 on Tuesday. The business has a 50-day moving average of $252.84 and a two-hundred day moving average of $258.90. The firm has a market capitalization of $133.63 billion, a PE ratio of 19.74, a P/E/G ratio of 1.96 and a beta of 1.11. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01.

Analyst Ratings Changes

Several brokerages recently issued reports on LOW. Mizuho lifted their price objective on Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. TD Cowen boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Sanford C. Bernstein increased their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. DA Davidson boosted their target price on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Finally, Guggenheim reaffirmed a “buy” rating and set a $300.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $282.96.

Insider Transactions at Lowe’s Companies

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