Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,355 shares of the home improvement retailer’s stock after purchasing an additional 135 shares during the period. Lowe’s Companies makes up 1.5% of Providence Wealth Advisors LLC’s holdings, making the stock its 22nd largest position. Providence Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $1,994,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LOW. Virtu Financial LLC acquired a new position in shares of Lowe’s Companies in the first quarter valued at about $814,000. Cetera Investment Advisers increased its holdings in shares of Lowe’s Companies by 180.8% in the first quarter. Cetera Investment Advisers now owns 247,721 shares of the home improvement retailer’s stock valued at $63,102,000 after purchasing an additional 159,502 shares during the period. Garde Capital Inc. acquired a new position in shares of Lowe’s Companies in the first quarter valued at about $136,000. Soltis Investment Advisors LLC boosted its stake in shares of Lowe’s Companies by 5.4% in the first quarter. Soltis Investment Advisors LLC now owns 1,638 shares of the home improvement retailer’s stock worth $417,000 after buying an additional 84 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Lowe’s Companies in the first quarter worth about $328,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $273.19 on Friday. Lowe’s Companies, Inc. has a one year low of $196.32 and a one year high of $287.01. The stock has a market cap of $154.98 billion, a PE ratio of 22.78, a P/E/G ratio of 2.29 and a beta of 1.10. The stock has a 50 day moving average price of $270.04 and a 200 day moving average price of $245.85.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LOW. Gordon Haskett lowered their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Bank of America upped their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Morgan Stanley upped their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Royal Bank of Canada upped their target price on Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 20th. Finally, Melius Research began coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price on the stock. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $277.92.

Insider Activity at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred 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 approximately $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.