ING Groep NV Sells 6,555 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

ING Groep NV reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 8.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 69,708 shares of the home improvement retailer’s stock after selling 6,555 shares during the quarter. ING Groep NV’s holdings in Lowe’s Companies were worth $17,204,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. StoneX Group Inc. bought a new stake in shares of Lowe’s Companies in the 3rd quarter valued at about $2,713,000. Principal Financial Group Inc. boosted its holdings in shares of Lowe’s Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after buying an additional 24,812 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Lowe’s Companies by 288.6% in the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after buying an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Lowe’s Companies by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after buying an additional 4,435 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in shares of Lowe’s Companies by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock valued at $4,894,000 after buying an additional 501 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the sale, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Mizuho raised their price target on shares of Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Royal Bank of Canada increased 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 report on Thursday, December 12th. Sanford C. Bernstein increased their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. TD Cowen increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, Truist Financial increased their price objective on shares of Lowe’s Companies from $307.00 to $308.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $282.96.

Lowe’s Companies Price Performance

NYSE:LOW opened at $246.63 on Friday. The company has a 50 day moving average price of $253.77 and a 200-day moving average price of $258.57. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The firm has a market cap of $139.26 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11.

Lowe’s Companies Company Profile

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.