Independent Advisor Alliance Has $13.66 Million Position in Lowe's Companies, Inc. (NYSE:LOW)

Independent Advisor Alliance lifted its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 55,351 shares of the home improvement retailer's stock after buying an additional 1,585 shares during the quarter. Independent Advisor Alliance's holdings in Lowe's Companies were worth $13,661,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Lowe's Companies in the 3rd quarter worth about $61,000. United Bank raised its position in shares of Lowe's Companies by 1.4% in the 3rd quarter. United Bank now owns 10,099 shares of the home improvement retailer's stock valued at $2,735,000 after buying an additional 137 shares in the last quarter. Assetmark Inc. raised its position in shares of Lowe's Companies by 12.0% in the 3rd quarter. Assetmark Inc. now owns 46,499 shares of the home improvement retailer's stock valued at $12,594,000 after buying an additional 4,977 shares in the last quarter. XML Financial LLC raised its position in shares of Lowe's Companies by 1.1% in the 3rd quarter. XML Financial LLC now owns 5,447 shares of the home improvement retailer's stock valued at $1,475,000 after buying an additional 58 shares in the last quarter. Finally, Mach 1 Financial Group LLC raised its position in shares of Lowe's Companies by 5.3% in the 3rd quarter. Mach 1 Financial Group LLC now owns 1,085 shares of the home improvement retailer's stock valued at $294,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

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Lowe's Companies Stock Performance

Shares of NYSE:LOW traded down $4.47 during trading on Wednesday, reaching $228.20. The stock had a trading volume of 2,825,340 shares, compared to its average volume of 2,288,255. The firm's fifty day moving average is $251.15 and its 200 day moving average is $258.93. Lowe's Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01. The stock has a market cap of $128.86 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.96 and a beta of 1.12.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 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 company had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. On average, research analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on LOW shares. Sanford C. Bernstein boosted their target price on shares of Lowe's Companies from $301.00 to $304.00 and gave the company an "outperform" rating in a research report on Thursday, December 12th. Truist Financial decreased their price target on shares of Lowe's Companies from $308.00 to $295.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Wedbush reaffirmed a "neutral" rating and set a $250.00 price target on shares of Lowe's Companies in a report on Thursday, December 12th. Royal Bank of Canada decreased their price target on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Finally, Barclays lifted their price target on shares of Lowe's Companies from $229.00 to $245.00 and gave the company an "equal weight" rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued 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 price target 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.