Marvin & Palmer Associates Inc. Takes $2.90 Million Position in Lowe's Companies, Inc. (NYSE:LOW)

Marvin & Palmer Associates Inc. purchased a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,759 shares of the home improvement retailer's stock, valued at approximately $2,902,000. Lowe's Companies makes up 2.2% of Marvin & Palmer Associates Inc.'s portfolio, making the stock its 22nd biggest holding.

Several other institutional investors also recently modified their holdings of LOW. IFS Advisors LLC bought a new position in shares of Lowe's Companies in the 4th quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Lowe's Companies during the 3rd quarter valued at about $27,000. Winch Advisory Services LLC increased its stake in Lowe's Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer's stock valued at $30,000 after purchasing an additional 44 shares in the last quarter. Marshall Investment Management LLC bought a new stake in Lowe's Companies during the 4th quarter valued at about $31,000. Finally, Financial Life Planners bought a new stake in Lowe's Companies during the 4th quarter valued at about $45,000. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Price Performance

Shares of LOW traded down $4.47 on Wednesday, reaching $228.20. The company's stock had a trading volume of 2,825,340 shares, compared to its average volume of 2,288,255. Lowe's Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The stock has a market capitalization of $128.86 billion, a P/E ratio of 19.03, a PEG ratio of 1.96 and a beta of 1.12. The stock's 50 day simple moving average is $251.15 and its two-hundred day simple moving average is $258.93.

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Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LOW. Barclays raised their price objective on shares of Lowe's Companies from $229.00 to $245.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 20th. DA Davidson raised their price objective on shares of Lowe's Companies from $240.00 to $270.00 and gave the company a "neutral" rating in a research note on Wednesday, November 20th. Royal Bank of Canada reduced their price objective on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Wedbush restated a "neutral" rating and set a $250.00 price objective on shares of Lowe's Companies in a research note on Thursday, December 12th. Finally, BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Lowe's Companies presently has a consensus rating of "Moderate Buy" and a consensus target price of $280.83.

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.