Quest Partners LLC Reduces Stake in Lowe's Companies, Inc.

In the third quarter, Quest Partners LLC significantly reduced its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by an impressive 91.8%, as revealed in the latest Form 13F filing with the Securities and Exchange Commission (SEC). After the sell-off of 6,008 shares during this period, the investment firm now holds just 534 shares of the home improvement retailer. By the end of the most recent reporting period, Quest Partners LLC's holdings in Lowe's Companies were valued at approximately $145,000.

Numerous other institutional investors and hedge funds have also recently made adjustments to their positions in Lowe's Companies. For instance, International Assets Investment Management LLC notably raised its stake by a staggering 1,889.7% during the third quarter. This dramatic increase means they now own 2,134,969 shares valued at roughly $578.3 million, after purchasing an additional 2,027,668 shares. Similarly, Strategic Financial Concepts LLC increased its position by 20,275.6% in the second quarter, now holding 1,205,014 shares worth about $2.7 million after acquiring an additional 1,199,100 shares during that period.

Moreover, Applied Finance Capital Management LLC also enhanced its investment, boosting its position by 387.7% in the latest quarter, which resulted in them owning 811,374 shares valued at $219.8 million after purchasing another 645,017 shares. Marshall Wace LLP increased its stake in Lowe's Companies by 170.5% in the second quarter, now owning 735,633 shares worth around $162.2 million after an additional purchase of 463,645 shares. Furthermore, Hardin Capital Partners LLC established a new stake in Lowe's Companies that amounts to approximately $74.8 million during the previous quarter. Currently, institutional investors hold 74.06% of the company's stock.

Recent Analyst Ratings

Recent activity among research analysts has also impacted Lowe's stock ratings. Truist Financial boosted their target price from $307.00 to $310.00 and assigned a "buy" rating on November 20. Conversely, JPMorgan Chase & Co. reduced their target price from $272.00 to $270.00 while maintaining an "overweight" rating on August 21. Mizuho raised their target price to $282.00 from $280.00 and rated the stock as "outperform" on November 20. Oppenheimer upgraded Lowe's Companies from a "market perform" rating to an "outperform" rating with a price target increase from $230.00 to $305.00 in a report from September 24. Additionally, Melius Research began coverage on the stock with a "buy" rating and a price target of $290.00 on September 23. Currently, ten analysts have issued hold ratings while sixteen have indicated buy ratings, resulting in a consensus rating of "Moderate Buy" with an average price target of $277.92 according to MarketBeat.

Insider Trading Activities

In related insider trading news, EVP Margrethe R. Vagell recently sold 5,730 shares on October 2, at an average price of $271.45, amounting to a total of approximately $1.6 million. Following this transaction, Vagell now holds 13,214 shares currently valued at $3.6 million, reflecting a 30.25% decline in her ownership. CAO Dan Clayton Griggs, Jr. also sold 6,769 shares on September 12, at an average price of $248.82, for a total of about $1.7 million. Post-sale, Griggs holds 9,383 shares valued at approximately $2.3 million, which represents a 41.91% decrease in his position. Currently, insider ownership stands at 0.26% of the company's shares.

Lowe's Companies Stock Performance Overview

As of recent trading, shares of Lowe's Companies opened at $273.19. The company has a 50-day moving average price of $270.04 and a 200-day moving average price of $245.85. Lowe's has a market capitalization of $154.98 billion and exhibits a PE ratio of 22.78 and a price-to-earnings-growth ratio of 2.31, with a beta of 1.10. Over the past year, the stock has reached a low of $196.32 and a high of $287.01.

About Lowe's Companies

Lowe's Companies, Inc. is a leading retailer in home improvement in the United States, offering a wide range of products that cater to construction, maintenance, remodeling, and decorating. Their product line includes appliances, seasonal goods, lawn and garden supplies, tools, hardware, and various items for home improvement needs.

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