Wealth Alliance Cuts Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Wealth Alliance trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,918 shares of the home improvement retailer’s stock after selling 69 shares during the quarter. Wealth Alliance’s holdings in Lowe’s Companies were worth $1,707,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Summit Place Financial Advisors LLC boosted its stake in Lowe’s Companies by 2.8% in the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after buying an additional 37 shares in the last quarter. Klingenstein Fields & Co. LP lifted its position in Lowe’s Companies by 1.0% in the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock valued at $1,012,000 after purchasing an additional 39 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in Lowe’s Companies by 0.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after purchasing an additional 40 shares during the last quarter. Powers Advisory Group LLC lifted its position in Lowe’s Companies by 2.7% in the fourth quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock valued at $380,000 after purchasing an additional 40 shares during the last quarter. Finally, Saxony Capital Management LLC lifted its position in Lowe’s Companies by 4.2% in the fourth quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock valued at $245,000 after purchasing an additional 40 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LOW. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Evercore ISI boosted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Sanford C. Bernstein boosted their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Stifel Nicolaus boosted their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada upped their target price on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $282.96.

Lowe’s Companies Trading Down 1.7 %

LOW opened at $246.49 on Thursday. The stock has a fifty day simple moving average of $254.11 and a two-hundred day simple moving average of $258.65. The company has a market cap of $139.18 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 2.00 and a beta of 1.11. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01.

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.