Lowe's Companies, Inc. (NYSE:LOW) Stock Position Increased by Synovus Financial Corp

Synovus Financial Corp raised its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 32.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,473 shares of the home improvement retailer's stock after purchasing an additional 12,154 shares during the quarter. Synovus Financial Corp's holdings in Lowe's Companies were worth $13,399,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Tidal Investments LLC raised its holdings in shares of Lowe's Companies by 14.8% during the 3rd quarter. Tidal Investments LLC now owns 43,307 shares of the home improvement retailer's stock valued at $11,730,000 after buying an additional 5,595 shares during the period. Destination Wealth Management purchased a new stake in shares of Lowe's Companies during the 3rd quarter valued at about $222,000. Wilmington Savings Fund Society FSB raised its holdings in shares of Lowe's Companies by 8.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 80,131 shares of the home improvement retailer's stock valued at $21,703,000 after buying an additional 6,367 shares during the period. Arvest Bank Trust Division purchased a new stake in shares of Lowe's Companies during the 3rd quarter valued at about $23,891,000. Finally, World Investment Advisors LLC raised its holdings in shares of Lowe's Companies by 7.6% during the 3rd quarter. World Investment Advisors LLC now owns 23,714 shares of the home improvement retailer's stock valued at $6,423,000 after buying an additional 1,670 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lowe's Companies news, EVP Quonta D. Vance sold 7,198 shares of Lowe's Companies stock in a transaction 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 sale, the executive vice president now owns 16,703 shares of the company's stock, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Lowe's Companies Price Performance

Shares of NYSE LOW traded down $1.11 during mid-day trading on Friday, hitting $262.39. The company had a trading volume of 1,927,147 shares, compared to its average volume of 2,441,636. The stock 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. Lowe's Companies, Inc. has a 12 month low of $209.55 and a 12 month high of $287.01. The firm's 50 day simple moving average is $270.80 and its two-hundred day simple moving average is $248.90.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LOW. Stifel Nicolaus raised their target price on Lowe's Companies from $265.00 to $270.00 and gave the company a "hold" rating in a report on Wednesday. TD Cowen raised their target price on Lowe's Companies from $270.00 to $290.00 and gave the company a "hold" rating in a report on Monday, October 28th. Mizuho raised their price objective on Lowe's Companies from $282.00 to $305.00 and gave the company an "outperform" rating in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on 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. Finally, Morgan Stanley raised their price objective on Lowe's Companies from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $280.85.

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.