Allworth Financial LP cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,325 shares of the home improvement retailer’s stock after selling 848 shares during the period. Allworth Financial LP’s holdings in Lowe’s Companies were worth $2,057,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Pershing Square Capital Management L.P. lifted its stake in Lowe’s Companies by 1.6% in the third quarter. Pershing Square Capital Management L.P. now owns 10,374,801 shares of the home improvement retailer’s stock worth $1,948,491,000 after purchasing an additional 167,495 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Lowe’s Companies by 13.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,916,354 shares of the home improvement retailer’s stock worth $1,486,770,000 after purchasing an additional 912,518 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake in Lowe’s Companies by 4.9% in the third quarter. Salem Investment Counselors Inc. now owns 3,463,854 shares of the home improvement retailer’s stock worth $650,546,000 after purchasing an additional 160,651 shares during the last quarter. London Co. of Virginia lifted its stake in Lowe’s Companies by 2.9% in the third quarter. London Co. of Virginia now owns 2,071,408 shares of the home improvement retailer’s stock worth $389,031,000 after purchasing an additional 58,983 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Lowe’s Companies by 7,952.8% in the first quarter. Renaissance Technologies LLC now owns 1,586,400 shares of the home improvement retailer’s stock worth $320,754,000 after purchasing an additional 1,566,700 shares during the last quarter. 72.62% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on LOW shares. Citigroup lowered their price objective on shares of Lowe’s Companies from $215.00 to $210.00 in a research note on Friday, March 3rd. Telsey Advisory Group lowered their price objective on shares of Lowe’s Companies from $250.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, March 2nd. Credit Suisse Group started coverage on shares of Lowe’s Companies in a research note on Monday, December 19th. They set a “neutral” rating and a $210.00 price objective for the company. Oppenheimer lowered their price objective on shares of Lowe’s Companies from $300.00 to $275.00 in a research note on Tuesday, February 28th. Finally, The Goldman Sachs Group upped their price objective on shares of Lowe’s Companies from $241.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, December 7th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Hold” and an average price target of $225.00.
Insider Transactions at Lowe’s Companies
Lowe’s Companies Stock Performance
Shares of NYSE LOW opened at $191.57 on Thursday. The firm’s 50 day moving average price is $205.28 and its 200-day moving average price is $201.06. The company has a market cap of $118.91 billion, a PE ratio of 19.14, a P/E/G ratio of 1.08 and a beta of 1.10. Lowe’s Companies, Inc. has a 52-week low of $170.12 and a 52-week high of $227.95.
Lowe’s Companies (NYSE:LOW – Get Rating) last issued its earnings results on Wednesday, March 1st. The home improvement retailer reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.07. The firm had revenue of $22.40 billion for the quarter, compared to the consensus estimate of $22.71 billion. Lowe’s Companies had a net margin of 6.63% and a negative return on equity of 82.30%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, analysts forecast that Lowe’s Companies, Inc. will post 13.83 earnings per share for the current fiscal year.
About Lowe’s Companies
Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.
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