Second Line Capital LLC Decreases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Second Line Capital LLC trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,749 shares of the home improvement retailer’s stock after selling 65 shares during the quarter. Second Line Capital LLC’s holdings in Lowe’s Companies were worth $1,286,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. StoneX Group Inc. purchased a new position in shares of Lowe’s Companies during the 3rd quarter worth about $2,713,000. HM Payson & Co. grew its stake in shares of Lowe’s Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after buying an additional 2,322 shares during the last quarter. Weiss Asset Management LP bought a new stake in shares of Lowe’s Companies during the 3rd quarter worth approximately $16,143,000. Daymark Wealth Partners LLC boosted its holdings in Lowe’s Companies by 12.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in Lowe’s Companies in the third quarter worth $5,976,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 1.5 %

Shares of LOW stock opened at $270.13 on Wednesday. The company has a market cap of $152.53 billion, a PE ratio of 22.53, a PEG ratio of 2.29 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $205.84 and a 12-month high of $287.01. The business’s fifty day simple moving average is $271.07 and its 200-day simple moving average is $248.27.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Tuesday, November 19th. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Truist Financial increased their price objective on Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada lifted their target price on Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $277.92.

Insider Activity at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on 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 completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were 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 owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % 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 ninety days. 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.