Arvest Bank Trust Division Makes New $23.89 Million Investment in Lowe's Companies, Inc. (NYSE:LOW)

Arvest Bank Trust Division bought a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 88,206 shares of the home improvement retailer's stock, valued at approximately $23,891,000. Lowe's Companies accounts for about 1.4% of Arvest Bank Trust Division's portfolio, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Lowe's Companies by 10.2% in the third 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 boosted its holdings in Lowe's Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer's stock valued at $6,774,948,000 after purchasing an additional 460,851 shares during the last quarter. Geode Capital Management LLC grew its position 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 purchasing an additional 187,473 shares during the period. Legal & General Group Plc raised its stake in shares of Lowe's Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer's stock valued at $1,147,603,000 after buying an additional 82,978 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Lowe's Companies by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer's stock valued at $912,508,000 after buying an additional 39,953 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Price Performance

LOW traded down $4.40 during trading hours on Thursday, reaching $263.50. The company's stock had a trading volume of 2,330,774 shares, compared to its average volume of 2,443,781. The business's 50-day moving average is $270.94 and its 200-day moving average is $248.80. The stock has a market cap of $148.79 billion, a PE ratio of 22.01, a P/E/G ratio of 2.29 and a beta of 1.09. Lowe's Companies, Inc. has a fifty-two week low of $206.08 and a fifty-two week high of $287.01.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LOW. Wedbush reaffirmed a "neutral" rating and set a $250.00 target price on shares of Lowe's Companies in a report on Thursday. Loop Capital raised shares of Lowe's Companies from a "hold" rating to a "buy" rating and lifted their target price for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on shares of Lowe's Companies from $272.00 to $270.00 and set an "overweight" rating on the stock in a report on Wednesday, August 21st. Bank of America lifted their price objective on shares of Lowe's Companies from $275.00 to $305.00 and gave the company a "buy" rating in a report on Friday, October 11th. Finally, TD Cowen increased their target price on shares of Lowe's Companies from $270.00 to $290.00 and gave the stock a "hold" rating in a research note on Monday, October 28th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $280.85.

Insider Activity

In related 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 value of $1,974,915.26. Following the completion of the transaction, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company's stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

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.