Lowe’s Companies Inc. (LOW) may enjoy gains as insiders got busy in the recent days

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Lowe’s Companies Inc.’s filing revealed that its EVP, Stores McFarland Joseph Michael unloaded Company’s shares for reported $3.12 million on Dec 19. In the deal valued at $203.82 per share,15,301 shares were sold. As a result of this transaction, McFarland Joseph Michael now holds 28,353 shares worth roughly $ 5.71 million.


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Then, MCCANLESS ROSS W sold 57,629 shares, generating $12,179,652 in total proceeds. Upon selling the shares at $211.35, the EVP, GC & Corp. Sec. now owns 26,923 shares.

Before that, Boltz William P sold 98,632 shares. Lowe’s Companies Inc. shares valued at $21,042,235 were divested by the EVP, Merchandising at a price of $213.34 per share. As a result of the transaction, Boltz William P now holds 25,110 shares, worth roughly $5.06 million.

Barclays initiated its Lowe’s Companies Inc. [LOW] rating to an Equal weight in a research note published on Friday, February 08, 2023; the price target was $215. PT values the company’s stock at a premium of 6.26 to its Friday closing price. A number of analysts have revised their coverage, including Credit Suisse’s analysts, who began to cover the stock in mid December with a ‘”a Neutral”‘ rating. Bernstein began covering LOW with “Mkt perform” recommendation on December 06, 2022. Cowen started covering the stock on October 19, 2022. It rated LOW as “a Market perform”.

Price Performance Review of LOW

On Friday, Lowe’s Companies Inc. [NYSE:LOW] saw its stock fall -0.33% to $201.54. On the same session, the stock had its day’s lowest price of $198.46, but rose to a high of $202.59. Over the last five days, the stock has lost -5.83%. Lowe’s Companies Inc. shares have risen nearly 1.15% since the year began. Nevertheless, the stocks have fallen -6.30% over the past one year. While a 52-week high of $238.37 was reached on 02/02/23, a 52-week low of $170.12 was recorded on 01/06/23. SMA at 50 days reached $206.58, while 200 days put it at $197.22. A total of 2.16 million shares were traded, compared to the trading of 2.33 million shares in the previous session.

Levels Of Support And Resistance For LOW Stock

The 24-hour chart illustrates a support level at 199.14, which if violated will result in even more drops to 196.73. On the upside, there is a resistance level at 203.27. A further resistance level may holdings at 204.99. The Relative Strength Index (RSI) on the 14-day chart is 40.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -7.78, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.24%. Stochastics %K at 14.60% indicates the stock is a buying.

How much short interest is there in Lowe’s Companies Inc.?

A steep rise in short interest was recorded in Lowe’s Companies Inc. stocks on Jan 12, 2023, dropping by -2.68 million shares to a total of 11.06 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 13.74 million shares. There was a decline of -24.23%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.83% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.85.

Lowe’s Companies Inc. [LOW] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 51,540,896 shares, or roughly 8.52% of the outstanding LOW shares. In other words, the investor’s shares have fallen by -836,781 from its previous 13-F filing of 52377677.0. Additionally, BlackRock Fund Advisors decreased -3.91% of its stake after which the total value it holdings stand at $5,938,585,699, while SSgA Funds Management, Inc. reduced -5.18% of its stake to hold $5.34 billion in the firm. Over the last quarter, Fidelity Management & Research Co sold -1,060,653 shares of Lowe’s Companies Inc., while JPMorgan Investment Management, I sold 1,161,798 shares. At present, Geode Capital Management LLC is holding 10,959,694 shares valued at $2.28 billion. Pershing Square Capital Managemen owned 10,374,801 shares of the company at the time of its most recent 13F filing, worth $2.16 billion.

According to FactSet, Lowe’s Companies Inc.’s share price will average $233.72 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.22 percent from its previous closing price of $202.21. Analysts expect Lowe’s Companies Inc. stock to reach the higher price of $300.00, while the lowest price estimate is $152.00. However, 36 analysts have rated LOW stock as an Overweight in their predictions for 2023.

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