PineStone Asset Management Inc. Purchases 4,275 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

PineStone Asset Management Inc. increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 821,842 shares of the home improvement retailer’s stock after acquiring an additional 4,275 shares during the quarter. Lowe’s Companies comprises about 1.9% of PineStone Asset Management Inc.’s portfolio, making the stock its 21st largest holding. PineStone Asset Management Inc. owned approximately 0.15% of Lowe’s Companies worth $202,831,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. BXM Wealth LLC purchased a new position in Lowe’s Companies during the fourth quarter worth $682,000. Nations Financial Group Inc. IA ADV lifted its stake in Lowe’s Companies by 2.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock worth $4,894,000 after acquiring an additional 501 shares during the period. ABC Arbitrage SA bought a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $363,000. Valeo Financial Advisors LLC increased its holdings in shares of Lowe’s Companies by 0.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,579 shares of the home improvement retailer’s stock valued at $2,364,000 after acquiring an additional 57 shares during the period. Finally, Klingenstein Fields & Co. LP raised its holdings 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 worth $1,012,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.3 %

Shares of NYSE LOW opened at $251.88 on Friday. The business has a fifty day simple moving average of $255.80 and a 200-day simple moving average of $258.29. The company has a market cap of $142.23 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 2.04 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.

Insider Activity

In related news, EVP Quonta D. Vance sold 7,198 shares of the firm’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 transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. DA Davidson upped their target price on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Evercore ISI increased their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada boosted their price target on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $282.96.

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.