Principal Financial Group Inc. Buys 24,812 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Principal Financial Group Inc. boosted its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 649,601 shares of the home improvement retailer's stock after purchasing an additional 24,812 shares during the period. Principal Financial Group Inc. owned 0.12% of Lowe's Companies worth $175,944,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LOW. Lord Abbett & CO. LLC increased its stake in shares of Lowe's Companies by 0.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 789,013 shares of the home improvement retailer's stock worth $213,704,000 after purchasing an additional 2,225 shares during the last quarter. Brass Tax Wealth Management Inc. boosted its holdings in Lowe's Companies by 7.7% in the third quarter. Brass Tax Wealth Management Inc. now owns 2,217 shares of the home improvement retailer's stock worth $600,000 after purchasing an additional 158 shares in the last quarter. Copley Financial Group Inc. bought a new stake in Lowe's Companies in the third quarter worth $247,000. Fidelity D & D Bancorp Inc. increased its position in Lowe's Companies by 13.8% during the third quarter. Fidelity D & D Bancorp Inc. now owns 2,240 shares of the home improvement retailer's stock worth $607,000 after buying an additional 271 shares during the last quarter. Finally, Garde Capital Inc. bought a new position in Lowe's Companies during the third quarter valued at about $120,000. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Price Performance

Shares of LOW stock traded up $3.20 during trading hours on Friday, reaching $247.72. The company had a trading volume of 5,589,191 shares, compared to its average volume of 2,462,231. Lowe's Companies, Inc. has a 1-year low of $209.55 and a 1-year high of $287.01. The firm has a market cap of $139.88 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 2.25 and a beta of 1.09. The company has a 50 day moving average of $268.54 and a 200 day moving average of $250.45.

Analyst Ratings Changes

A number of research firms recently issued reports on LOW. Melius Research initiated coverage on shares of Lowe's Companies in a research note on Monday, September 23rd. They issued a "buy" rating and a $290.00 target price on the stock. Mizuho raised their price target on Lowe's Companies from $282.00 to $305.00 and gave the company an "outperform" rating in a research report on Thursday, December 12th. Guggenheim reiterated a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a research note on Thursday, December 12th. Bank of America increased their target price on Lowe's Companies from $275.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, October 11th. Finally, Piper Sandler lifted their price target on Lowe's Companies from $262.00 to $307.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and a consensus target price of $280.85.

Insider Buying and Selling

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total value of $1,974,915.26. Following the sale, the executive vice president now directly owns 16,703 shares of the company's stock, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.