PineStone Asset Management Inc. Acquires 4,275 Shares of Lowe's Companies, Inc. (NYSE:LOW)

PineStone Asset Management Inc. raised its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 821,842 shares of the home improvement retailer's stock after acquiring an additional 4,275 shares during the quarter. Lowe's Companies makes up about 1.9% of PineStone Asset Management Inc.'s holdings, making the stock its 21st largest holding. PineStone Asset Management Inc. owned 0.15% of Lowe's Companies worth $202,831,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings 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 valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the last quarter. State Street Corp boosted its position in shares of Lowe's Companies by 1.9% during 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 buying an additional 460,851 shares during the period. Geode Capital Management LLC boosted its position 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 worth $3,169,041,000 after buying an additional 187,473 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Lowe's Companies by 1.2% in the third 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 acquiring an additional 39,953 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its stake in shares of Lowe's Companies by 1.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer's stock valued at $634,700,000 after acquiring an additional 36,054 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Insider Buying and Selling

In other news, EVP Quonta D. Vance sold 7,198 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was 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 owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LOW shares. DA Davidson raised their price target on Lowe's Companies from $240.00 to $270.00 and gave the company a "neutral" rating in a research note on Wednesday, November 20th. TD Cowen lifted their price objective on Lowe's Companies from $270.00 to $290.00 and gave the company a "hold" rating in a report on Monday, October 28th. StockNews.com raised Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research note on Thursday, December 12th. Finally, Wedbush restated a "neutral" rating and set a $250.00 price objective on shares of Lowe's Companies in a research report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $282.96.

Lowe's Companies Price Performance

Shares of LOW traded down $4.22 during midday trading on Wednesday, hitting $246.49. The stock had a trading volume of 2,513,277 shares, compared to its average volume of 2,162,052. The company has a 50 day simple moving average of $254.54 and a two-hundred day simple moving average of $258.73. Lowe's Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01. The firm has a market cap of $139.18 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 2.00 and a beta of 1.11.

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.