Redmond Asset Management LLC Grows Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Redmond Asset Management LLC grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,890 shares of the home improvement retailer’s stock after purchasing an additional 46 shares during the period. Redmond Asset Management LLC’s holdings in Lowe’s Companies were worth $466,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. AMF Tjanstepension AB grew its position in Lowe’s Companies by 14.4% in the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after acquiring an additional 20,123 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Lowe’s Companies by 75.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 52,989 shares of the home improvement retailer’s stock worth $14,352,000 after purchasing an additional 22,812 shares during the last quarter. Dakota Wealth Management raised its stake in shares of Lowe’s Companies by 3.0% during the third quarter. Dakota Wealth Management now owns 11,565 shares of the home improvement retailer’s stock valued at $3,132,000 after acquiring an additional 335 shares during the last quarter. Mount Yale Investment Advisors LLC raised its stake in shares of Lowe’s Companies by 14.4% during the third quarter. Mount Yale Investment Advisors LLC now owns 4,855 shares of the home improvement retailer’s stock valued at $1,315,000 after acquiring an additional 610 shares during the last quarter. Finally, Silver Oak Securities Incorporated raised its stake in shares of Lowe’s Companies by 18.2% during the third quarter. Silver Oak Securities Incorporated now owns 2,586 shares of the home improvement retailer’s stock valued at $691,000 after acquiring an additional 399 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LOW shares. Royal Bank of Canada upped their price objective on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Evercore ISI increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Truist Financial increased their price target on shares of Lowe’s Companies from $307.00 to $308.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company increased their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $282.96.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the sale, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Down 3.0 %

NYSE:LOW opened at $238.93 on Friday. The company’s 50 day moving average price is $253.31 and its 200-day moving average price is $258.70. Lowe’s Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01. The stock has a market cap of $134.91 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.96 and a beta of 1.11.

About Lowe’s Companies

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.