Quest Partners LLC Reduces Stake in Lowe's Companies, Inc. (NYSE:LOW)

Quest Partners LLC has significantly reduced its stake in Lowe's Companies, Inc. (NYSE:LOW) by 91.8% during the third quarter, as noted in its recent Form 13F filing with the Securities and Exchange Commission (SEC). After this reduction, the institutional investor currently holds 534 shares of the home improvement retailer, having sold 6,008 shares throughout the quarter. At the conclusion of this reporting period, Quest Partners LLC's investment in Lowe's was valued at approximately $145,000.

In addition to Quest Partners LLC, several other institutional investors have also adjusted their positions in Lowe's Companies. Notably, International Assets Investment Management LLC increased its stake by a staggering 1,889.7% during the third quarter. It now holds 2,134,969 shares worth $578,256,000, after acquiring an additional 2,027,668 shares. Strategic Financial Concepts LLC raised its position by 20,275.6% in the second quarter, now owning 1,205,014 shares valued at $2,657,000 after purchasing an extra 1,199,100 shares.

Moreover, Applied Finance Capital Management LLC boosted its stake by 387.7% during the third quarter, now possessing 811,374 shares worth $219,761,000 after acquiring an additional 645,017 shares. In the second quarter, Marshall Wace LLP increased its stake by 170.5%, holding 735,633 shares valued at $162,178,000 after adding 463,645 shares. Finally, Hardin Capital Partners LLC entered the field by acquiring a new stake worth approximately $74,763,000 in the second quarter. Currently, institutional investors own 74.06% of Lowe's Companies' stock.

Analyst Ratings on Lowe's Companies

Several analysts have shared their perspectives on Lowe's stock recently. Truist Financial raised its target price for Lowe's from $307 to $310, affirming a "buy" rating in a report released on November 20. Conversely, JPMorgan Chase & Co. lowered their target price from $272 to $270 while maintaining an "overweight" rating. Mizuho also hiked its target from $280 to $282, offering an "outperform" rating. Meanwhile, Oppenheimer upgraded Lowe's from a "market perform" to an "outperform" rating and increased its price target from $230 to $305 in a report dated September 24. Melius Research initiated coverage of Lowe's, assigning a "buy" rating with a price target of $290. Currently, ten analysts have rated Lowe's with a hold rating, while sixteen have given it a buy rating, leading to a consensus rating of "Moderate Buy" and an average price target of $277.92 according to MarketBeat.

Insider Transactions at Lowe's Companies

In related news, Margrethe R. Vagell, Executive Vice President, sold 5,730 shares of Lowe's stock on October 2 at an average price of $271.45, totaling $1,555,408.50. Following this transaction, Vagell now directly owns 13,214 shares, which are valued at approximately $3,586,940.30, indicating a 30.25% decrease in ownership. This sale was disclosed in a filing with the SEC. Additionally, Chief Accounting Officer Dan Clayton Griggs, Jr. sold 6,769 shares on September 12 for an average price of $248.82, amounting to $1,684,262.58. Griggs now owns 9,383 shares valued at around $2,334,678.06, reflecting a 41.91% reduction in his stake. Insiders hold around 0.26% of the company's stock.

Lowe's Companies Stock Performance

The stock of Lowe's opened at $273.19 on a recent Friday. It has a 50-day moving average price of $270.04 and a 200-day moving average of $245.85. With a market capitalization of approximately $154.98 billion, the company's PE ratio stands at 22.78, accompanied by a price-to-earnings-growth ratio of 2.31 and a beta of 1.10. Over the past year, Lowe's shares have fluctuated between a low of $196.32 and a high of $287.01.

Overview of Lowe's Companies

Lowe's Companies, Inc. operates as a prominent home improvement retailer within the United States. It offers a wide range of products covering construction, maintenance, repair, remodeling, and decorating needs. This includes home improvement items such as appliances, seasonal and outdoor living supplies, lawn and garden products, lumber, kitchen and bath essentials, tools, paint, millwork, hardware, flooring, plumbing materials, decor, and electrical supplies.

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