Second Line Capital LLC Cuts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Second Line Capital LLC lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,749 shares of the home improvement retailer’s stock after selling 65 shares during the quarter. Second Line Capital LLC’s holdings in Lowe’s Companies were worth $1,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. StoneX Group Inc. bought a new position in Lowe’s Companies during the 3rd quarter valued at about $2,713,000. HM Payson & Co. raised its holdings in shares of Lowe’s Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after purchasing an additional 2,322 shares during the last quarter. Weiss Asset Management LP bought a new position in Lowe’s Companies during the third quarter valued at approximately $16,143,000. Daymark Wealth Partners LLC boosted its holdings in Lowe’s Companies by 12.7% in the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after purchasing an additional 2,889 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Lowe’s Companies in the 3rd quarter worth approximately $5,976,000. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Down 1.5 %

Shares of LOW stock opened at $270.13 on Wednesday. The company’s fifty day simple moving average is $271.07 and its two-hundred day simple moving average is $248.27. Lowe’s Companies, Inc. has a 52 week low of $205.84 and a 52 week high of $287.01. The stock has a market cap of $152.53 billion, a P/E ratio of 22.53, a PEG ratio of 2.29 and a beta of 1.10.

Insider Transactions at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 19,697 shares of company stock valued at $5,214,586. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley raised their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Melius Research started coverage on Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. Evercore ISI upped their price target on shares of Lowe’s Companies from $255.00 to $270.00 and gave the company an “in-line” rating in a research report on Wednesday, November 20th. Bank of America raised their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus increased their price target on shares of Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $277.92.

About Lowe’s Companies

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.