Eventide Asset Management LLC Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Eventide Asset Management LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 276,364 shares of the home improvement retailer’s stock after acquiring an additional 3,252 shares during the quarter. Lowe’s Companies accounts for approximately 1.3% of Eventide Asset Management LLC’s portfolio, making the stock its 21st largest holding. Eventide Asset Management LLC’s holdings in Lowe’s Companies were worth $74,853,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. StoneX Group Inc. purchased a new position in shares of Lowe’s Companies during the 3rd quarter worth approximately $2,713,000. HM Payson & Co. raised its position in Lowe’s Companies by 1.1% in the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after acquiring an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC lifted its holdings in Lowe’s Companies by 12.7% in the second 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. AMF Tjanstepension AB grew its stake in shares of Lowe’s Companies by 14.4% during the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after purchasing an additional 20,123 shares during the period. Finally, Claro Advisors LLC increased its holdings in shares of Lowe’s Companies by 2,246.3% in the 3rd quarter. Claro Advisors LLC now owns 40,521 shares of the home improvement retailer’s stock valued at $10,975,000 after purchasing an additional 38,794 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction 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 approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % 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.

Lowe’s Companies Price Performance

LOW opened at $273.19 on Friday. Lowe’s Companies, Inc. has a 12 month low of $196.32 and a 12 month high of $287.01. The business has a 50-day moving average of $270.04 and a two-hundred day moving average of $245.85. The stock has a market capitalization of $154.98 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10.

Analyst Ratings Changes

LOW has been the topic of several recent analyst reports. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a report on Tuesday, November 19th. Gordon Haskett reduced their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Mizuho upped their target price on Lowe’s Companies from $280.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, TD Cowen lifted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.