Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,303,642 shares of the home improvement retailer's stock after selling 313,259 shares during the quarter. Franklin Resources Inc. owned 0.58% of Lowe's Companies worth $927,431,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new position in Lowe's Companies in the 3rd quarter valued at $27,000. JNBA Financial Advisors raised its position 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 lifted its stake in shares of Lowe's Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer's stock worth $35,000 after acquiring an additional 70 shares during the period. Stephens Consulting LLC boosted its holdings in shares of Lowe's Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer's stock valued at $32,000 after acquiring an additional 70 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of Lowe's Companies during the second quarter worth about $37,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price objective on Lowe's Companies from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. UBS Group boosted their price target on Lowe's Companies from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Evercore ISI raised 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 report on Thursday. Oppenheimer raised shares of Lowe's Companies from a "market perform" rating to an "outperform" rating and upped their price target for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lowe's Companies from $272.00 to $270.00 and set an "overweight" rating for the company in a research note on Wednesday, August 21st. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $280.85.

Lowe's Companies Price Performance

NYSE:LOW traded down $1.11 during trading hours on Friday, reaching $262.39. 1,927,147 shares of the company were exchanged, compared to its average volume of 2,441,646. Lowe's Companies, Inc. has a 52-week low of $209.55 and a 52-week high of $287.01. The stock has a 50 day simple moving average of $270.80 and a 200 day simple moving average of $248.90. The firm has a market cap of $148.16 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.25 and a beta of 1.09.

Insider Activity

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the sale, the executive vice president now directly owns 16,703 shares of the company's stock, valued at $4,582,802.11. This trade represents a 30.12 % 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 Company 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.