Retirement Systems of Alabama Has $33.55 Million Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Retirement Systems of Alabama trimmed its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 57.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 123,875 shares of the home improvement retailer's stock after selling 164,829 shares during the quarter. Retirement Systems of Alabama's holdings in Lowe's Companies were worth $33,552,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LOW. FMR LLC increased its stake in Lowe's Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer's stock worth $7,045,006,000 after purchasing an additional 2,399,897 shares in the last quarter. State Street Corp increased its position in shares of 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 worth $6,774,948,000 after acquiring an additional 460,851 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Lowe's Companies by 1.6% during the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer's stock valued at $3,169,041,000 after acquiring an additional 187,473 shares during the period. Legal & General Group Plc lifted its position in shares of Lowe's Companies by 1.6% in 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 acquiring an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 worth $912,508,000 after purchasing an additional 39,953 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe's Companies Trading Down 0.4 %

LOW traded down $1.11 during midday trading on Friday, reaching $262.39. The company's stock had a trading volume of 1,999,384 shares, compared to its average volume of 2,441,946. The company has a fifty day simple moving average of $270.69 and a 200 day simple moving average of $249.22. The stock has a market cap of $148.16 billion, a P/E ratio of 21.88, a PEG ratio of 2.25 and a beta of 1.09. Lowe's Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LOW shares. Piper Sandler lifted their price target on Lowe's Companies from $262.00 to $307.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Melius Research assumed coverage on Lowe's Companies in a research report on Monday, September 23rd. They set a "buy" rating and a $290.00 price objective for the company. Sanford C. Bernstein upped their target price on Lowe's Companies from $301.00 to $304.00 and gave the company an "outperform" rating in a report on Thursday. Loop Capital upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating and upped their price objective for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research note on Thursday. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $280.85.

Insider Activity at Lowe's Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business'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 transaction, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Quonta D. Vance sold 7,198 shares of the company's 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 directly owns 16,703 shares of the company's stock, valued at approximately $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 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.