Kestra Investment Management LLC Acquires New Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Kestra Investment Management LLC purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 223 shares of the home improvement retailer’s stock, valued at approximately $55,000.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC grew its holdings in Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after acquiring an additional 2,399,897 shares during the period. State Street Corp grew its holdings in Lowe’s Companies by 1.9% during the 3rd 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 grew its holdings in 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 during the period. Charles Schwab Investment Management Inc. grew its holdings in Lowe’s Companies by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after acquiring an additional 39,953 shares during the period. Finally, Ontario Teachers Pension Plan Board grew its holdings in Lowe’s Companies by 1.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock worth $634,700,000 after acquiring an additional 36,054 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred 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 transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Down 3.0 %

Lowe’s Companies stock opened at $238.93 on Friday. Lowe’s Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01. The company’s 50 day moving average price is $253.31 and its two-hundred day moving average price is $258.58. The stock has a market cap of $134.91 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.96 and a beta of 1.11.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LOW. Barclays increased their price target on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Sanford C. Bernstein raised their target price on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Truist Financial raised their target price on Lowe’s Companies from $307.00 to $308.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. TD Cowen raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Finally, Mizuho raised their target price on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $282.96.

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.