Korea Investment CORP lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 13.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 465,192 shares of the home improvement retailer’s stock after selling 72,975 shares during the period. Korea Investment CORP’s holdings in Lowe’s Companies were worth $104,994,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of LOW. Norges Bank acquired a new position in Lowe’s Companies in the 4th quarter worth $1,461,267,000. Moneta Group Investment Advisors LLC grew its stake in Lowe’s Companies by 107,710.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after purchasing an additional 5,075,327 shares in the last quarter. Providence Capital Advisors LLC raised its stake in shares of Lowe’s Companies by 19,964.5% during the 1st quarter. Providence Capital Advisors LLC now owns 4,520,122 shares of the home improvement retailer’s stock worth $22,604,000 after purchasing an additional 4,497,594 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Lowe’s Companies by 450.8% in the first quarter. Macquarie Group Ltd. now owns 2,556,364 shares of the home improvement retailer’s stock valued at $511,196,000 after buying an additional 2,092,245 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Lowe’s Companies by 21.3% during the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after buying an additional 2,050,089 shares during the last quarter. 71.88% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on LOW. Telsey Advisory Group reissued a “market perform” rating and set a $225.00 price target on shares of Lowe’s Companies in a research report on Tuesday. Wells Fargo & Company upped their price objective on shares of Lowe’s Companies from $245.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 23rd. Royal Bank of Canada assumed coverage on shares of Lowe’s Companies in a research note on Tuesday, November 7th. They set a “sector perform” rating and a $194.00 target price on the stock. Evercore ISI cut their target price on shares of Lowe’s Companies from $240.00 to $235.00 and set an “in-line” rating on the stock in a research report on Friday, September 8th. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus price target of $242.32.
Lowe’s Companies Price Performance
Shares of LOW stock traded down $5.54 during mid-day trading on Tuesday, hitting $198.90. The company had a trading volume of 3,168,358 shares, compared to its average volume of 2,797,156. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $237.21. The stock’s 50 day moving average price is $201.37 and its 200-day moving average price is $213.30. The company has a market capitalization of $114.79 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.34 and a beta of 1.07.
Lowe’s Companies (NYSE:LOW – Get Free Report) last posted its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.04. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The business had revenue of $20.74 billion for the quarter, compared to the consensus estimate of $20.87 billion. During the same quarter in the previous year, the business earned $3.27 EPS. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 13.31 earnings per share for the current year.
Insider Activity at Lowe’s Companies
In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 4,500 shares of Lowe’s Companies stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $222.53, for a total value of $1,001,385.00. Following the completion of the sale, the executive vice president now owns 46,594 shares in the company, valued at approximately $10,368,562.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Lowe’s Companies news, EVP Janice Dupre sold 5,380 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total value of $1,244,286.40. Following the sale, the executive vice president now directly owns 24,216 shares in the company, valued at approximately $5,600,676.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Michael Mcfarland sold 4,500 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the sale, the executive vice president now directly owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
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.
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