May 18, 2022

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Evergreen Wealth Solutions LLC Invests $2.05 Million in Lowe’s Companies, Inc. (NYSE:LOW)

Evergreen Wealth Solutions LLC purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOWGet Rating) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,923 shares of the home improvement retailer’s stock, valued at approximately $2,048,000. Lowe’s Companies accounts for about 1.9% of Evergreen Wealth Solutions LLC’s holdings, making the stock its 8th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lenox Wealth Advisors LLC increased its stake in shares of Lowe’s Companies by 1,283.9% in the 4th quarter. Lenox Wealth Advisors LLC now owns 429 shares of the home improvement retailer’s stock worth $111,000 after purchasing an additional 398 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in Lowe’s Companies by 73.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 487 shares of the home improvement retailer’s stock worth $126,000 after buying an additional 206 shares in the last quarter. Wolf Group Capital Advisors purchased a new stake in Lowe’s Companies in the 4th quarter worth $260,000. HNP Capital LLC increased its stake in Lowe’s Companies by 1.5% in the 4th quarter. HNP Capital LLC now owns 13,231 shares of the home improvement retailer’s stock worth $3,420,000 after buying an additional 200 shares in the last quarter. Finally, Fairhaven Wealth Management LLC increased its stake in Lowe’s Companies by 0.7% in the 4th quarter. Fairhaven Wealth Management LLC now owns 19,146 shares of the home improvement retailer’s stock worth $4,949,000 after buying an additional 130 shares in the last quarter. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

LOW has been the subject of a number of analyst reports. Robert W. Baird increased their price target on Lowe’s Companies from $235.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 17th. Telsey Advisory Group increased their price objective on shares of Lowe’s Companies from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, February 24th. Loop Capital increased their price objective on shares of Lowe’s Companies from $220.00 to $240.00 and gave the company a “hold” rating in a report on Thursday, November 18th. Truist Financial increased their price objective on shares of Lowe’s Companies from $217.00 to $284.00 and gave the company a “buy” rating in a report on Thursday, November 18th. Finally, Morgan Stanley lifted their price target on shares of Lowe’s Companies from $265.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, January 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $263.30.

Shares of LOW stock opened at $231.07 on Wednesday. The firm’s 50 day moving average price is $231.11 and its 200-day moving average price is $230.50. Lowe’s Companies, Inc. has a one year low of $172.31 and a one year high of $263.31. The firm has a market cap of $155.68 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.37 and a beta of 1.34.

Lowe’s Companies (NYSE:LOWGet Rating) last issued its quarterly earnings data on Wednesday, February 23rd. The home improvement retailer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Lowe’s Companies had a net margin of 8.77% and a negative return on equity of 551.52%. The firm had revenue of $21.34 billion for the quarter, compared to analyst estimates of $20.91 billion. During the same period in the prior year, the business posted $1.33 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts forecast that Lowe’s Companies, Inc. will post 13.37 EPS for the current fiscal year.

Lowe’s Companies announced that its board has initiated a share buyback program on Wednesday, December 15th that allows the company to buyback $13.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are 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.

See Also

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOWGet Rating).

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

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