Investment Management Corp of Ontario Buys 6,100 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Investment Management Corp of Ontario boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 20.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,303 shares of the home improvement retailer’s stock after purchasing an additional 6,100 shares during the quarter. Investment Management Corp of Ontario’s holdings in Lowe’s Companies were worth $9,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its holdings in Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after purchasing an additional 2,399,897 shares in the last quarter. Legal & General Group Plc lifted its holdings in Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after purchasing an additional 82,978 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 buying an additional 39,953 shares in the last quarter. Ontario Teachers Pension Plan Board raised its stake 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 acquiring an additional 36,054 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Lowe’s Companies by 1,889.7% in the third 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 purchasing an additional 2,027,668 shares during the period. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LOW. Piper Sandler lifted their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Wells Fargo & Company increased their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. TD Cowen upped their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Morgan Stanley increased their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. reduced their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Insiders Place Their Bets

In other news, EVP Quonta D. Vance sold 7,198 shares of the 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 in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,697 shares of company stock valued at $5,214,586. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies Trading Down 0.1 %

Shares of NYSE LOW opened at $272.05 on Tuesday. The stock has a fifty day simple moving average of $270.29 and a two-hundred day simple moving average of $246.30. Lowe’s Companies, Inc. has a 1-year low of $203.72 and a 1-year high of $287.01. The firm has a market cap of $153.61 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

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.