ABC Arbitrage SA Invests $363,000 in Lowe's Companies, Inc. (NYSE:LOW)

ABC Arbitrage SA purchased a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,470 shares of the home improvement retailer's stock, valued at approximately $363,000.

A number of other hedge funds have also bought and sold shares of LOW. Valeo Financial Advisors LLC grew its position in shares of Lowe's Companies by 0.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 9,579 shares of the home improvement retailer's stock valued at $2,364,000 after purchasing an additional 57 shares in the last quarter. Klingenstein Fields & Co. LP grew its position 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 buying an additional 39 shares in the last quarter. GFG Capital LLC bought a new position in Lowe's Companies in the 4th quarter worth about $218,000. Campbell Wealth Management purchased a new stake in shares of Lowe's Companies in the 4th quarter valued at about $231,000. Finally, Banque Pictet & Cie SA boosted its position in shares of Lowe's Companies by 10.8% during the 4th quarter. Banque Pictet & Cie SA now owns 45,726 shares of the home improvement retailer's stock valued at $11,285,000 after acquiring an additional 4,452 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lowe's Companies

In other Lowe's Companies 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company's stock.

Lowe's Companies Trading Down 1.7 %

LOW stock traded down $4.22 on Wednesday, hitting $246.49. The company had a trading volume of 2,438,719 shares, compared to its average volume of 2,157,502. Lowe's Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The stock has a market cap of $139.18 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 2.00 and a beta of 1.11. The stock's 50-day simple moving average is $254.54 and its 200 day simple moving average is $258.73.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of Lowe's Companies from $265.00 to $270.00 and gave the company a "hold" rating in a research report on Wednesday, December 11th. Sanford C. Bernstein raised their target price on shares of Lowe's Companies from $301.00 to $304.00 and gave the stock an "outperform" rating in a report on Thursday, December 12th. Wells Fargo & Company increased their price target 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. Guggenheim reiterated a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a report on Thursday, December 12th. Finally, Evercore ISI lifted their target price on shares of Lowe's Companies from $270.00 to $290.00 and gave the company an "in-line" rating in a research note on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $282.96.

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.