Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 57.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,875 shares of the home improvement retailer’s stock after selling 164,829 shares during the quarter. Retirement Systems of Alabama’s holdings in Lowe’s Companies were worth $33,552,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in Lowe’s Companies by 10.2% during the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares in the last quarter. State Street Corp raised its position in shares of Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after acquiring an additional 460,851 shares during the period. Geode Capital Management LLC boosted its stake in shares of Lowe’s Companies by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after acquiring an additional 187,473 shares in the last quarter. Legal & General Group Plc grew its position in shares of Lowe’s Companies by 1.6% during the 2nd 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 acquiring an additional 82,978 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 purchasing an additional 39,953 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction dated Wednesday, November 27th. The stock was 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 owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Melius Research started coverage on Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Thursday. Guggenheim restated a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday. Royal Bank of Canada lifted their target price on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Bank of America upped 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 report on Friday, October 11th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $262.30 on Friday. Lowe’s Companies, Inc. has a one year low of $209.55 and a one year high of $287.01. The firm’s 50 day moving average price is $270.69 and its 200-day moving average price is $249.22. The firm has a market cap of $148.11 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.25 and a beta of 1.09.

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.