Weiss Asset Management LP Invests $16.14 Million in Lowe's Companies, Inc. (NYSE:LOW)

Weiss Asset Management LP purchased a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 59,600 shares of the home improvement retailer's stock, valued at approximately $16,143,000.

A number of other hedge funds and other institutional investors have also modified their holdings of LOW. FMR LLC increased its stake 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 worth $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. International Assets Investment Management LLC increased its position in Lowe's Companies by 1,889.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer's stock worth $578,256,000 after buying an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC increased its position in Lowe's Companies by 20,275.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer's stock worth $2,657,000 after buying an additional 1,199,100 shares during the period. Applied Finance Capital Management LLC lifted its holdings in shares of Lowe's Companies by 387.7% during the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer's stock worth $219,761,000 after buying an additional 645,017 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Lowe's Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer's stock valued at $162,178,000 after acquiring an additional 463,645 shares during the period. Institutional investors own 74.06% of the company's stock.

Insider Buying and Selling

In other Lowe's Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe's Companies 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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,697 shares of company stock valued at $5,214,586 in the last 90 days. 0.26% of the stock is owned by insiders.

Lowe's Companies Stock Performance

LOW traded up $3.15 during midday trading on Friday, reaching $273.22. 1,193,765 shares of the company were exchanged, compared to its average volume of 2,437,780. The stock has a market capitalization of $154.27 billion, a P/E ratio of 22.90, a PEG ratio of 2.30 and a beta of 1.09. The stock's 50-day simple moving average is $270.88 and its 200 day simple moving average is $247.22. Lowe's Companies, Inc. has a one year low of $205.84 and a one year high of $287.01.

Analysts Set New Price Targets

Several research firms recently commented on LOW. Morgan Stanley upped their target price on shares of Lowe's Companies from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Piper Sandler raised their price objective 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. UBS Group raised their price objective on shares of Lowe's Companies from $270.00 to $290.00 and gave the stock a "buy" rating in a report on Wednesday, August 21st. Mizuho upped their target price on shares of Lowe's Companies from $280.00 to $282.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus raised their target price on Lowe's Companies from $250.00 to $260.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $277.92.

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.