Brophy Wealth Management LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Brophy Wealth Management LLC purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,089 shares of the home improvement retailer’s stock, valued at approximately $566,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Executive Wealth Management LLC acquired a new stake in Lowe’s Companies during the third quarter valued at $321,000. Continuum Advisory LLC raised its stake in shares of Lowe’s Companies by 69.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,389 shares of the home improvement retailer’s stock worth $376,000 after purchasing an additional 568 shares in the last quarter. LRI Investments LLC raised its stake in shares of Lowe’s Companies by 23.8% during the 3rd quarter. LRI Investments LLC now owns 2,309 shares of the home improvement retailer’s stock worth $624,000 after purchasing an additional 444 shares in the last quarter. Geller Advisors LLC lifted its holdings in shares of Lowe’s Companies by 3.7% during the 3rd quarter. Geller Advisors LLC now owns 2,416 shares of the home improvement retailer’s stock valued at $654,000 after buying an additional 86 shares during the last quarter. Finally, EWA LLC bought a new stake in shares of Lowe’s Companies in the 3rd quarter valued at approximately $215,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were 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 directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,697 shares of company stock worth $5,214,586 over the last three months. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LOW. Oppenheimer raised shares of 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. TD Cowen raised their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Melius Research started coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective for the company. Barclays raised their target price on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Finally, Bank of America boosted their price target on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Stock Performance

Shares of LOW opened at $274.15 on Tuesday. The company has a 50-day simple moving average of $271.07 and a 200-day simple moving average of $248.27. Lowe’s Companies, Inc. has a 52 week low of $205.84 and a 52 week high of $287.01. The firm has a market capitalization of $154.80 billion, a P/E ratio of 22.86, a P/E/G ratio of 2.29 and a beta of 1.10.

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.