Lowe’s Companies, Inc. $LOW is Summitry LLC’s 5th Largest Position

Summitry LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 357,883 shares of the home improvement retailer’s stock after purchasing an additional 8,448 shares during the quarter. Lowe’s Companies accounts for approximately 3.8% of Summitry LLC’s investment portfolio, making the stock its 5th biggest holding. Summitry LLC owned 0.06% of Lowe’s Companies worth $89,940,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Maj Invest Holding A S grew its stake in shares of Lowe’s Companies by 15.7% during the 3rd quarter. Maj Invest Holding A S now owns 802,990 shares of the home improvement retailer’s stock worth $201,801,000 after purchasing an additional 108,813 shares during the period. Bridges Investment Management Inc. boosted its holdings in Lowe’s Companies by 13.4% during the third quarter. Bridges Investment Management Inc. now owns 420,832 shares of the home improvement retailer’s stock worth $105,759,000 after buying an additional 49,858 shares in the last quarter. Facet Wealth Inc. acquired a new stake in Lowe’s Companies during the third quarter valued at $558,000. Prudential Financial Inc. grew its position in Lowe’s Companies by 0.7% during the second quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock valued at $183,344,000 after buying an additional 5,820 shares during the period. Finally, Jennison Associates LLC increased its holdings in Lowe’s Companies by 22.0% in the second quarter. Jennison Associates LLC now owns 497,628 shares of the home improvement retailer’s stock valued at $110,409,000 after buying an additional 89,839 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

NYSE LOW opened at $287.36 on Monday. The business has a fifty day moving average price of $261.04 and a 200 day moving average price of $251.90. The company has a market cap of $161.19 billion, a P/E ratio of 23.83, a P/E/G ratio of 4.48 and a beta of 0.97. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year high of $293.06.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The firm had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. During the same period last year, the firm posted $2.89 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of analyst reports. Robert W. Baird dropped their target price on Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Barclays raised Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price objective on the stock in a report on Wednesday, January 7th. Mizuho reduced their target price on Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Morgan Stanley lifted their price target on shares of Lowe’s Companies from $270.00 to $296.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Finally, Jefferies Financial Group boosted their price target on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Twenty equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $287.22.

Insider Buying and Selling at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the sale, the chief executive officer owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by corporate insiders.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.