Erste Asset Management GmbH Makes New $5.98 Million Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Erste Asset Management GmbH purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the third quarter, according to its most recent filing with the SEC. The fund purchased 22,371 shares of the home improvement retailer’s stock, valued at approximately $5,976,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Stephens Consulting LLC grew its holdings in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the last quarter. JNBA Financial Advisors grew its stake in Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 100 shares during the last quarter. MFA Wealth Advisors LLC increased its position in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares during the period. Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the second quarter valued at $37,000. Finally, Tsfg LLC grew its position in shares of Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Down 0.1 %

NYSE:LOW opened at $272.05 on Tuesday. The stock has a fifty day simple moving average of $270.29 and a 200 day simple moving average of $246.30. The firm has a market capitalization of $154.33 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $203.72 and a 1-year high of $287.01.

Analysts Set New Price Targets

LOW has been the subject of a number of analyst reports. Melius Research assumed coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 target price for the company. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lowered their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. TD Cowen boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,697 shares of company stock worth $5,214,586 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

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.