Bridgewater Associates LP Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Bridgewater Associates LP lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 72.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,130 shares of the home improvement retailer’s stock after selling 93,313 shares during the period. Bridgewater Associates LP’s holdings in Lowe’s Companies were worth $9,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Stephens Consulting LLC raised its holdings in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares in the last quarter. JNBA Financial Advisors increased its position in Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the period. MFA Wealth Advisors LLC raised its holdings in Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies in the 2nd quarter worth about $37,000. Finally, Tsfg LLC boosted its stake in shares of Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

LOW opened at $273.19 on Friday. The company’s 50-day simple moving average is $270.04 and its two-hundred day simple moving average is $245.85. Lowe’s Companies, Inc. has a 52-week low of $196.32 and a 52-week high of $287.01. The stock has a market capitalization of $154.98 billion, a P/E ratio of 22.78, a P/E/G ratio of 2.31 and a beta of 1.10.

Insider Activity at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 in the company, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

LOW has been the subject of a number of research reports. Bank of America increased their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company raised their target price on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Sanford C. Bernstein reduced their price target on Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Finally, Stifel Nicolaus upped their target price on shares of Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

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.