Cornerstone Advisors LLC Boosts Position in Lowe's Companies, Inc. (NYSE:LOW)

Cornerstone Advisors LLC boosted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 35.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,900 shares of the home improvement retailer's stock after acquiring an additional 9,600 shares during the quarter. Cornerstone Advisors LLC's holdings in Lowe's Companies were worth $9,107,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Lowe's Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer's stock valued at $7,045,006,000 after acquiring an additional 2,399,897 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Lowe's Companies in the fourth quarter valued at approximately $314,435,000. Strategic Financial Concepts LLC lifted its stake in shares of Lowe's Companies by 24,531.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock worth $303,096,000 after buying an additional 1,223,116 shares during the last quarter. Amundi boosted its holdings in shares of Lowe's Companies by 60.1% during the 4th quarter. Amundi now owns 2,603,305 shares of the home improvement retailer's stock worth $642,730,000 after buying an additional 976,823 shares during the period. Finally, Proficio Capital Partners LLC grew its stake in Lowe's Companies by 42,529.8% in the 4th quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer's stock valued at $208,843,000 after buying an additional 844,217 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Lowe's Companies Stock Down 1.4 %

Shares of Lowe's Companies stock traded down $3.26 on Wednesday, hitting $229.41. The stock had a trading volume of 1,567,959 shares, compared to its average volume of 2,282,763. Lowe's Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The stock's 50-day simple moving average is $251.52 and its two-hundred day simple moving average is $259.14. The stock has a market cap of $129.54 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.96 and a beta of 1.12.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. As a group, equities analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LOW shares. Barclays raised their price objective on shares of Lowe's Companies from $229.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 20th. Truist Financial lowered their target price on Lowe's Companies from $308.00 to $295.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. BNP Paribas upgraded Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. Evercore ISI boosted their target price on Lowe's Companies from $270.00 to $290.00 and gave the stock an "in-line" rating in a research report on Thursday, December 12th. Finally, Mizuho reduced their target price on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $280.83.

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.