Lowe’s Companies, Inc. (NYSE:LOW) Position Trimmed by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,303,642 shares of the home improvement retailer’s stock after selling 313,259 shares during the quarter. Franklin Resources Inc. owned approximately 0.58% of Lowe’s Companies worth $927,431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Asset Advisors Investment Management LLC purchased a new position in Lowe’s Companies during the 3rd quarter valued at about $236,000. Peapack Gladstone Financial Corp grew its stake in shares of Lowe’s Companies by 1.6% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 153,134 shares of the home improvement retailer’s stock valued at $41,476,000 after buying an additional 2,442 shares in the last quarter. Synovus Financial Corp grew its stake in shares of Lowe’s Companies by 32.6% in the 3rd quarter. Synovus Financial Corp now owns 49,473 shares of the home improvement retailer’s stock valued at $13,399,000 after buying an additional 12,154 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Lowe’s Companies by 14.8% in the 3rd quarter. Tidal Investments LLC now owns 43,307 shares of the home improvement retailer’s stock valued at $11,730,000 after buying an additional 5,595 shares in the last quarter. Finally, Destination Wealth Management bought a new stake in shares of Lowe’s Companies in the 3rd quarter valued at approximately $222,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the completion of the transaction, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $263.50 on Friday. The stock’s fifty day moving average is $270.80 and its 200-day moving average is $248.90. The stock has a market capitalization of $148.79 billion, a PE ratio of 21.98, a PEG ratio of 2.25 and a beta of 1.09. Lowe’s Companies, Inc. has a 52 week low of $206.08 and a 52 week high of $287.01.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Sanford C. Bernstein boosted their price target on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday. TD Cowen boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Guggenheim restated a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a report on Thursday. Finally, Truist Financial reduced their target price on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a report on Thursday. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

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.