Benjamin Edwards Inc. Acquires 65,304 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Benjamin Edwards Inc. boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2,869.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,580 shares of the home improvement retailer’s stock after purchasing an additional 65,304 shares during the period. Benjamin Edwards Inc.’s holdings in Lowe’s Companies were worth $18,309,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LOW. Bamco Inc. NY boosted its stake in Lowe’s Companies by 71.6% in the 3rd quarter. Bamco Inc. NY now owns 290,107 shares of the home improvement retailer’s stock valued at $78,575,000 after buying an additional 121,058 shares in the last quarter. B&L Asset Management LLC acquired a new stake in shares of Lowe’s Companies in the 3rd quarter valued at $778,000. Erste Asset Management GmbH bought a new stake in shares of Lowe’s Companies in the 3rd quarter worth about $5,976,000. Cobblestone Capital Advisors LLC NY increased its position in shares of Lowe’s Companies by 27.1% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 3,838 shares of the home improvement retailer’s stock worth $1,040,000 after purchasing an additional 818 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in Lowe’s Companies during the 3rd quarter valued at about $2,073,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LOW. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Melius Research assumed coverage on Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective for the company. Mizuho boosted their price objective on Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Tuesday, November 19th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Trading Down 0.3 %

LOW opened at $272.43 on Monday. The stock has a market capitalization of $154.55 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $196.32 and a 12 month high of $287.01. The firm’s fifty day simple moving average is $270.29 and its 200 day simple moving average is $246.30.

Insider Buying and Selling at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction 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 completion of the sale, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,697 shares of company stock valued at $5,214,586 in the last 90 days. 0.26% of the stock is currently owned by company insiders.

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.