Quest Partners LLC Reduces Stake in Lowe's Companies, Inc. (NYSE:LOW)

Quest Partners LLC has significantly reduced its investment in Lowe's Companies, Inc. (NYSE:LOW) by 91.8% during the third quarter, as reported in its recent Form 13F filing with the Securities and Exchange Commission (SEC). Following this move, Quest Partners LLC now holds only 534 shares of the home improvement retailer after selling off 6,008 shares in the period. The total value of Quest Partners LLC's remaining holdings in Lowe's Companies at the end of the reporting period is approximately $145,000.

Institutional Impact

In addition to Quest Partners LLC's actions, several other institutional investors have adjusted their positions in Lowe's Companies recently. International Assets Investment Management LLC has increased its ownership in the company by an astonishing 1,889.7%, now holding 2,134,969 shares valued at around $578.3 million after acquiring an additional 2,027,668 shares in the last quarter. Another noteworthy change came from Strategic Financial Concepts LLC, which raised its stake by 20,275.6%, gaining 1,205,014 shares worth $2.66 million after buying an extra 1,199,100 shares. Meanwhile, Applied Finance Capital Management LLC enhanced its position by 387.7% in the third quarter, now controlling 811,374 shares valued at $219.8 million.

Analyst Ratings

Several analysts have recently changed their ratings on Lowe's Companies. Truist Financial increased its target price from $307.00 to $310.00, labeling the stock as a “buy” in a report dated November 20. Similarly, JPMorgan Chase & Co. decreased its target price from $272.00 to $270.00 but still considers the stock “overweight.” Mizuho raised its target from $280.00 to $282.00, still maintaining an “outperform” rating. On another note, Oppenheimer upgraded Lowe's Companies from a “market perform” rating to “outperform,” boosting its price target from $230.00 to $305.00 on September 24. The majority of analysts currently rate Lowe’s Companies with a consensus of “Moderate Buy,” with an average price target of $277.92.

Insider Transactions

In terms of insider activity, EVP Margrethe R. Vagell sold 5,730 shares on October 2 for an average price of $271.45, totaling around $1.56 million. After this sale, Vagell holds 13,214 shares valued at approximately $3.59 million, reflecting a 30.25% drop in ownership. Additionally, CAO Dan Clayton Griggs, Jr. sold 6,769 shares on September 12 at an average price of $248.82, bringing in approximately $1.68 million. He now owns 9,383 shares valued at $2.33 million, which is a drop of 41.91% in his stake. Insiders currently control only 0.26% of Lowe's stock.

Lowe's Financial Overview

Lowe's Companies' shares opened at $273.19, with a fifty-day moving average of $270.04 and a 200-day moving average of $245.85. The company's market capitalization stands at $154.98 billion, with a price-to-earnings (PE) ratio of 22.78 and a price-to-earnings growth (PEG) ratio of 2.31. Currently, Lowe's has seen a one-year low of $196.32 and a one-year high of $287.01.

Company Background

Lowe's Companies, Inc. operates as a home improvement retailer in the United States, along with its subsidiaries. The company provides a wide range of products for construction, maintenance, repair, remodeling, and decorating. Its offerings include home improvement products like appliances, lawn care, lumber, kitchen and bath essentials, tools, paint, flooring, and electrical items.

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