May 18, 2022

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CFS Investment Advisory Services LLC Buys Shares of 13,582 Lowe’s Companies, Inc. (NYSE:LOW)

CFS Investment Advisory Services LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,582 shares of the home improvement retailer’s stock, valued at approximately $2,755,000.

A number of other large investors have also recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Lowe’s Companies by 1.9% in the third quarter. Geode Capital Management LLC now owns 10,899,139 shares of the home improvement retailer’s stock valued at $2,205,116,000 after purchasing an additional 203,878 shares in the last quarter. Morgan Stanley increased its stake in Lowe’s Companies by 5.1% in the third quarter. Morgan Stanley now owns 5,960,831 shares of the home improvement retailer’s stock valued at $1,209,213,000 after purchasing an additional 290,139 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Lowe’s Companies by 35.8% during the third quarter. Wellington Management Group LLP now owns 5,093,210 shares of the home improvement retailer’s stock worth $1,033,209,000 after acquiring an additional 1,342,761 shares in the last quarter. Soroban Capital Partners LP raised its holdings in shares of Lowe’s Companies by 8.3% during the third quarter. Soroban Capital Partners LP now owns 4,617,627 shares of the home improvement retailer’s stock worth $936,732,000 after acquiring an additional 354,695 shares during the period. Finally, Nordea Investment Management AB lifted its position in Lowe’s Companies by 96.3% in the 3rd quarter. Nordea Investment Management AB now owns 3,380,885 shares of the home improvement retailer’s stock valued at $698,964,000 after acquiring an additional 1,658,293 shares in the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

LOW has been the topic of several recent research reports. Evercore ISI initiated coverage on Lowe’s Companies in a research note on Tuesday, February 15th. They issued an “outperform” rating on the stock. Jefferies Financial Group lifted their price target on Lowe’s Companies from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, December 16th. Gordon Haskett raised Lowe’s Companies from an “accumulate” rating to a “buy” rating and dropped their price target for the company from $284.00 to $275.00 in a research note on Thursday, February 10th. Citigroup lifted their target price on Lowe’s Companies from $270.00 to $292.00 and gave the company a “buy” rating in a research report on Tuesday, January 18th. Finally, OTR Global raised Lowe’s Companies from a “mixed” rating to a “positive” rating in a research report on Tuesday, February 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $263.30.

3 Stocks Set to Double

Shares of NYSE:LOW opened at $219.18 on Monday. The stock has a market cap of $147.67 billion, a PE ratio of 18.31, a P/E/G ratio of 1.18 and a beta of 1.31. The business has a 50 day moving average of $237.93 and a 200-day moving average of $228.38. Lowe’s Companies, Inc. has a 12-month low of $150.84 and a 12-month high of $263.31.

Lowe’s Companies (NYSE:LOW – Get Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The home improvement retailer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.07. The business had revenue of $21.34 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Lowe’s Companies had a negative return on equity of 551.52% and a net margin of 8.77%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 earnings per share. On average, analysts forecast that Lowe’s Companies, Inc. will post 13.15 earnings per share for the current year.

Lowe’s Companies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 15th that authorizes the company to repurchase $13.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Lowe’s Companies Company Profile (Get Rating)

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

Further Reading

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

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