Lowe’s Companies, Inc. $LOW Shares Acquired by Syon Capital LLC

Syon Capital LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 26.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,443 shares of the home improvement retailer’s stock after purchasing an additional 2,152 shares during the period. Syon Capital LLC’s holdings in Lowe’s Companies were worth $2,624,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Lowe’s Companies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 55,306,162 shares of the home improvement retailer’s stock valued at $13,898,992,000 after acquiring an additional 329,807 shares during the last quarter. State Street Corp lifted its stake in Lowe’s Companies by 0.8% during the second quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock worth $5,527,176,000 after purchasing an additional 207,826 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Lowe’s Companies by 0.3% in the second quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock valued at $2,732,049,000 after purchasing an additional 42,190 shares in the last quarter. Norges Bank acquired a new position in Lowe’s Companies in the second quarter valued at approximately $1,773,624,000. Finally, Bank of New York Mellon Corp increased its stake in Lowe’s Companies by 12.1% in the third quarter. Bank of New York Mellon Corp now owns 4,294,776 shares of the home improvement retailer’s stock valued at $1,079,320,000 after purchasing an additional 463,012 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE LOW opened at $280.80 on Wednesday. The firm’s fifty day moving average is $262.65 and its two-hundred day moving average is $252.73. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year high of $293.06. The firm has a market cap of $157.51 billion, a PE ratio of 23.28, a P/E/G ratio of 4.48 and a beta of 0.97.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. HSBC reduced their price objective on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating for the company in a research report on Friday, November 21st. Truist Financial set a $295.00 price target on shares of Lowe’s Companies in a research report on Friday, January 16th. Morgan Stanley raised their price objective on Lowe’s Companies from $270.00 to $296.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Robert W. Baird cut 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. Finally, Jefferies Financial Group upped their target price on Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Twenty analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $287.22.

Insiders Place Their Bets

In other news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the sale, the chief executive officer owned 231,043 shares in the company, valued at $60,341,500.31. This 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 is available through this link. Insiders own 0.27% of the company’s stock.

About Lowe’s Companies

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.