Elk River Wealth Management LLC Cuts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Elk River Wealth Management LLC lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,993 shares of the home improvement retailer’s stock after selling 206 shares during the period. Lowe’s Companies comprises 1.3% of Elk River Wealth Management LLC’s portfolio, making the stock its 25th largest holding. Elk River Wealth Management LLC’s holdings in Lowe’s Companies were worth $6,909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. Summit Place Financial Advisors LLC boosted its holdings in shares of Lowe’s Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after buying an additional 37 shares during the period. Klingenstein Fields & Co. LP raised its stake in Lowe’s Companies by 1.0% during the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock worth $1,012,000 after acquiring an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in Lowe’s Companies by 0.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after acquiring an additional 40 shares during the last quarter. Powers Advisory Group LLC lifted its holdings in Lowe’s Companies by 2.7% in the fourth quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock worth $380,000 after acquiring an additional 40 shares during the last quarter. Finally, Saxony Capital Management LLC boosted its stake in Lowe’s Companies by 4.2% in the fourth quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock valued at $245,000 after acquiring an additional 40 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total value of $1,974,915.26. Following the transaction, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LOW has been the topic of a number of research reports. 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 research report on Wednesday, November 20th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Truist Financial boosted their price target on shares of Lowe’s Companies from $307.00 to $308.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Finally, Wells Fargo & Company lifted their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $282.96.

Lowe’s Companies Price Performance

LOW stock opened at $246.49 on Thursday. The firm has a market cap of $139.18 billion, a PE ratio of 20.56, a P/E/G ratio of 2.00 and a beta of 1.11. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01. The firm has a 50 day simple moving average of $254.11 and a 200 day simple moving average of $258.65.

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.