Cornerstone Advisors LLC Sells 5,400 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Cornerstone Advisors LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 13.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 34,400 shares of the home improvement retailer’s stock after selling 5,400 shares during the quarter. Cornerstone Advisors LLC’s holdings in Lowe’s Companies were worth $7,150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Berkeley Capital Partners LLC raised its stake in Lowe’s Companies by 4.2% during the second quarter. Berkeley Capital Partners LLC now owns 1,119 shares of the home improvement retailer’s stock valued at $253,000 after buying an additional 45 shares during the last quarter. McAdam LLC grew its holdings in shares of Lowe’s Companies by 3.7% in the second quarter. McAdam LLC now owns 1,322 shares of the home improvement retailer’s stock worth $298,000 after acquiring an additional 47 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Lowe’s Companies by 6.0% in the second quarter. Farther Finance Advisors LLC now owns 884 shares of the home improvement retailer’s stock worth $200,000 after acquiring an additional 50 shares during the period. Strategy Asset Managers LLC grew its holdings in shares of Lowe’s Companies by 3.4% in the second quarter. Strategy Asset Managers LLC now owns 1,553 shares of the home improvement retailer’s stock worth $351,000 after acquiring an additional 51 shares during the period. Finally, Aprio Wealth Management LLC grew its holdings in Lowe’s Companies by 4.3% during the third quarter. Aprio Wealth Management LLC now owns 1,244 shares of the home improvement retailer’s stock valued at $259,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 71.88% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded up $8.13 during mid-day trading on Monday, reaching $230.39. 1,847,448 shares of the company were exchanged, compared to its average volume of 2,561,159. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $237.21. The business has a fifty day moving average of $217.33 and a 200 day moving average of $212.77. The firm has a market cap of $132.50 billion, a P/E ratio of 17.14, a PEG ratio of 1.59 and a beta of 1.12.

Lowe’s Companies (NYSE:LOWGet Free Report) last issued its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $3.03 by $0.03. Lowe’s Companies had a negative return on equity of 54.56% and a net margin of 8.49%. The firm had revenue of $20.74 billion during the quarter, compared to analyst estimates of $20.87 billion. During the same quarter in the prior year, the business posted $3.27 EPS. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. Sell-side analysts predict that Lowe’s Companies, Inc. will post 13.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LOW. Piper Sandler boosted their price target on Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Barclays boosted their target price on Lowe’s Companies from $203.00 to $229.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 4th. Morgan Stanley reduced their price objective on Lowe’s Companies from $255.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 22nd. Wedbush cut their target price on Lowe’s Companies from $230.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 22nd. Finally, Stifel Nicolaus cut Lowe’s Companies from a “buy” rating to a “hold” rating and upped their target price for the company from $235.00 to $240.00 in a research note on Wednesday, December 20th. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.33.

Read Our Latest Stock Analysis on Lowe’s Companies

Lowe’s Companies Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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