Wayfinding Financial LLC Acquires New Position in Lowe’s Companies, Inc. (NYSE:LOW)

Wayfinding Financial LLC bought a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,667 shares of the home improvement retailer’s stock, valued at approximately $411,000.

Several other institutional investors and hedge funds have also modified their holdings of LOW. FMR LLC grew its stake in shares of Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after buying an additional 2,399,897 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Lowe’s Companies during the 4th quarter worth $314,435,000. Strategic Financial Concepts LLC increased its stake in shares of Lowe’s Companies by 24,531.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after purchasing an additional 1,223,116 shares during the last quarter. Amundi raised its holdings in shares of Lowe’s Companies by 60.1% during the 4th quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock valued at $642,730,000 after purchasing an additional 976,823 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in Lowe’s Companies by 42,529.8% in the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock worth $208,843,000 after purchasing an additional 844,217 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Up 0.3 %

Shares of Lowe’s Companies stock opened at $226.17 on Friday. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The stock has a market capitalization of $127.70 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The company has a 50-day simple moving average of $248.40 and a 200 day simple moving average of $257.85.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. The company had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LOW. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Guggenheim reiterated a “buy” rating and set a $300.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. Stifel Nicolaus boosted their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein lifted their target price on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Finally, Piper Sandler dropped their price objective on Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average target price 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.