Lowe’s Companies, Inc. (NYSE:LOW) Sees Significant Decrease in Short Interest

Lowe’s Companies, Inc. (NYSE:LOW) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 5,570,000 shares, a decrease of 20.3% from the October 31st total of 6,990,000 shares. Based on an average daily volume of 2,230,000 shares, the short-interest ratio is presently 2.5 days. Currently, 1.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

LOW has been the subject of several research reports. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Mizuho lifted their price objective on Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. cut their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada upped their price target on shares of Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 20th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Trading Down 0.3 %

Shares of LOW stock traded down $0.76 during mid-day trading on Friday, reaching $272.43. The stock had a trading volume of 1,526,387 shares, compared to its average volume of 2,384,702. The firm has a market capitalization of $154.55 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The stock’s 50-day moving average price is $270.29 and its two-hundred day moving average price is $246.23. Lowe’s Companies has a 52-week low of $196.32 and a 52-week high of $287.01.

Insider Activity

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were 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 in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,697 shares of company stock worth $5,214,586. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

Several institutional investors and hedge funds have recently modified their holdings of LOW. Crew Capital Management Ltd. raised its holdings in Lowe’s Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after purchasing an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC grew its position in Lowe’s Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after buying an additional 37 shares during the last quarter. Clean Yield Group lifted its stake in shares of Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after acquiring an additional 38 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in Lowe’s Companies by 0.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after purchasing an additional 40 shares in the last quarter. Finally, Drive Wealth Management LLC increased its position in Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 41 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

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.