Brophy Wealth Management LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Brophy Wealth Management LLC acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,089 shares of the home improvement retailer’s stock, valued at approximately $566,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Lowe’s Companies in the 3rd quarter worth about $27,000. Stephens Consulting LLC grew its position in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. JNBA Financial Advisors increased its stake in shares of Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the period. MFA Wealth Advisors LLC raised its holdings in shares of Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 70 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the second quarter worth approximately $37,000. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Trading Up 0.3 %

NYSE LOW opened at $274.15 on Tuesday. Lowe’s Companies, Inc. has a 1 year low of $205.84 and a 1 year high of $287.01. The company has a market cap of $154.80 billion, a PE ratio of 22.86, a PEG ratio of 2.29 and a beta of 1.10. The stock’s 50-day moving average price is $271.07 and its two-hundred day moving average price is $248.27.

Insider Activity

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Quonta D. Vance sold 7,198 shares of the company’s 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 transaction, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,697 shares of company stock worth $5,214,586 over the last 90 days. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Truist Financial raised their target price on Lowe’s Companies from $307.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Morgan Stanley raised their price target on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their target price for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Finally, Piper Sandler upped their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $277.92.

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.