Atom Investors LP Trims Stake in Lowe's Companies, Inc. (NYSE:LOW)

Atom Investors LP lowered its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 89.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,904 shares of the home improvement retailer's stock after selling 15,980 shares during the quarter. Atom Investors LP's holdings in Lowe's Companies were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Butensky & Cohen Financial Security Inc. grew its stake in shares of Lowe's Companies by 1.2% during the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 20,614 shares of the home improvement retailer's stock valued at $4,545,000 after acquiring an additional 235 shares during the period. CX Institutional grew its stake in shares of Lowe's Companies by 2.0% during the 2nd quarter. CX Institutional now owns 37,119 shares of the home improvement retailer's stock valued at $8,183,000 after acquiring an additional 733 shares during the period. Jamison Private Wealth Management Inc. grew its stake in shares of Lowe's Companies by 2.5% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 2,104 shares of the home improvement retailer's stock valued at $464,000 after acquiring an additional 52 shares during the period. Ellenbecker Investment Group grew its stake in shares of Lowe's Companies by 41.8% during the 2nd quarter. Ellenbecker Investment Group now owns 1,638 shares of the home improvement retailer's stock valued at $361,000 after acquiring an additional 483 shares during the period. Finally, Tilia Fiduciary Partners Inc. grew its stake in shares of Lowe's Companies by 4.9% during the 2nd quarter. Tilia Fiduciary Partners Inc. now owns 10,056 shares of the home improvement retailer's stock valued at $2,217,000 after acquiring an additional 470 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Down 0.8 %

Shares of Lowe's Companies stock traded down $2.15 during trading on Wednesday, hitting $272.24. 2,080,873 shares of the stock traded hands, compared to its average volume of 2,445,526. The firm has a market cap of $153.72 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 2.28 and a beta of 1.09. Lowe's Companies, Inc. has a 52-week low of $203.85 and a 52-week high of $287.01. The stock's fifty day simple moving average is $270.79 and its 200 day simple moving average is $247.06.

Analyst Ratings Changes

Several research analysts have weighed in on LOW shares. Piper Sandler upped their price target on Lowe's Companies from $262.00 to $307.00 and gave the stock an "overweight" rating in a research note on Monday, September 30th. Barclays upped their price target on Lowe's Companies from $229.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 20th. Mizuho upped their price target on Lowe's Companies from $280.00 to $282.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. Stifel Nicolaus increased their target price on Lowe's Companies from $250.00 to $260.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their target price on Lowe's Companies from $272.00 to $270.00 and set an "overweight" rating for the company in a research report on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lowe's Companies has a consensus rating of "Moderate Buy" and an average price target of $277.92.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares of the company's stock, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,697 shares of company stock worth $5,214,586. Company insiders own 0.26% of the company's stock.

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.