Bridgewater Associates LP Cuts Stake in Lowe's Companies, Inc.

Bridgewater Associates LP has significantly reduced its investment in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 72.1% during the third quarter, according to its recent filing with the Securities and Exchange Commission (SEC). After the sale of 93,313 shares, the firm now holds 36,130 shares in the home improvement retailer, valued at approximately $9,786,000 at the end of the latest reporting period.

Institutional Investor Trading Activity

Several other institutional investors have also moved in and out of their positions in Lowe's Companies. For instance, during the second quarter, Stephens Consulting LLC increased its holdings by an impressive 93.3%, acquiring an additional 70 shares to own 145 shares in total, valued at $32,000. Similarly, JNBA Financial Advisors increased its stake by 555.6% in the third quarter, owning 118 shares worth $32,000 after purchasing 100 additional shares. MFA Wealth Advisors LLC also boosted its position by 118.6%, now owning 129 shares valued at $35,000 after acquiring 70 more shares.

Kimelman & Baird LLC entered a new stake in Lowe's Companies during the second quarter, valued at about $37,000. Tsfg LLC increased its stake in the third quarter by 128.2%, owning 178 shares worth $48,000 after adding 100 shares. In total, institutional investors own around 74.06% of Lowe's Companies stock.

Lowe's Companies Stock Status

As of Friday, Lowe's Companies stocks opened at $273.19. The company's 50-day simple moving average is $270.04, while the two-hundred day simple moving average stands at $245.85. Over the past year, Lowe's Companies has seen a low of $196.32 and a high of $287.01, with a market capitalization of $154.98 billion. The stock has a P/E ratio of 22.78, a P/E/G ratio of 2.31, and a beta of 1.10.

Insider Transactions

In recent insider activity, CAO Dan Clayton Griggs, Jr. sold 6,769 shares on September 12 at an average price of $248.82, totaling approximately $1,684,262.58. Following this transaction, Griggs now owns 9,383 shares valued at around $2,334,678.06, marking a 41.91% decrease in his stake. Additionally, EVP Margrethe R. Vagell sold 5,730 shares on October 2 at an average price of $271.45, resulting in a cumulative amount of about $1,555,408.50. Vagell now holds 13,214 shares valued at approximately $3,586,940.30, representing a 30.25% decrease in ownership. Currently, insiders own 0.26% of Lowe's Companies stock.

Analysts' Price Target Adjustments

Lowe's Companies has been featured in numerous research reports. Notably, Bank of America increased its price target from $275.00 to $305.00 while maintaining a "buy" rating on October 11. Wells Fargo & Company also raised its target price from $280.00 to $295.00, categorizing the stock as "overweight" in their report on November 6. Conversely, Sanford C. Bernstein reduced its price target from $306.00 to $301.00 but retained an "outperform" rating on November 20. Oppenheimer upgraded Lowe’s from a "market perform" rating to "outperform" and increased its price objective from $230.00 to $305.00 on September 24. Stifel Nicolaus also adjusted its target price from $250.00 to $260.00, giving it a "hold" rating. Among analysts, ten have issued a hold rating while sixteen recommend buying the stock, leading to a consensus rating of "Moderate Buy" with an average price target of $277.92.

Lowe's Companies Overview

Lowe's Companies, Inc. operates as a home improvement retailer in the United States through its subsidiaries. The company provides a broad range of products for construction, maintenance, repair, remodeling, and decoration. Their product offerings include appliances, seasonal and outdoor living items, lawn and garden supplies, lumber, kitchen and bathroom fixtures, tools, paint, building materials, flooring, and hardware.

Bridgewater, Lowe's, Investments