M&T Bank Corp Trims Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

M&T Bank Corp lessened its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 335,532 shares of the home improvement retailer’s stock after selling 11,959 shares during the period. M&T Bank Corp owned approximately 0.06% of Lowe’s Companies worth $90,879,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Lowe’s Companies by 10.2% during the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after acquiring an additional 2,027,668 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares during the period. Applied Finance Capital Management LLC grew its position in Lowe’s Companies by 387.7% during the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after acquiring an additional 645,017 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Lowe’s Companies by 170.5% during the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after purchasing an additional 463,645 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on LOW shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. Piper Sandler upped their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and increased their target price for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price target on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada raised their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Up 1.3 %

LOW stock opened at $247.72 on Friday. The company has a market capitalization of $139.88 billion, a P/E ratio of 20.66, a PEG ratio of 2.25 and a beta of 1.09. The company has a 50-day simple moving average of $268.54 and a 200 day simple moving average of $250.45. Lowe’s Companies, Inc. has a fifty-two week low of $209.55 and a fifty-two week high of $287.01.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total value of $1,974,915.26. Following the completion of the sale, the executive vice president now owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.