May 19, 2022

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Lowe’s Companies, Inc. (NYSE:LOW) Holdings Lowered by Strong Tower Advisory Services

Strong Tower Advisory Services trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 4.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,024 shares of the home improvement retailer’s stock after selling 305 shares during the period. Lowe’s Companies makes up about 0.8% of Strong Tower Advisory Services’ holdings, making the stock its 28th largest position. Strong Tower Advisory Services’ holdings in Lowe’s Companies were worth $1,557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LOW. Wealth Advisory Solutions LLC lifted its stake in Lowe’s Companies by 2.2% in the third quarter. Wealth Advisory Solutions LLC now owns 2,032 shares of the home improvement retailer’s stock valued at $412,000 after buying an additional 43 shares during the period. Cardan Capital Partners LLC lifted its stake in Lowe’s Companies by 3.7% in the third quarter. Cardan Capital Partners LLC now owns 1,273 shares of the home improvement retailer’s stock valued at $258,000 after buying an additional 45 shares during the period. Avion Wealth lifted its stake in Lowe’s Companies by 6.6% in the third quarter. Avion Wealth now owns 723 shares of the home improvement retailer’s stock valued at $147,000 after buying an additional 45 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Lowe’s Companies by 1.1% during the third quarter. Valeo Financial Advisors LLC now owns 4,081 shares of the home improvement retailer’s stock worth $828,000 after purchasing an additional 45 shares during the period. Finally, Kovack Advisors Inc. raised its position in shares of Lowe’s Companies by 1.1% during the third quarter. Kovack Advisors Inc. now owns 4,110 shares of the home improvement retailer’s stock worth $834,000 after purchasing an additional 45 shares during the period. 73.20% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on the company. Piper Sandler upped their target price on Lowe’s Companies from $231.00 to $295.00 and gave the stock an “overweight” rating in a research report on Thursday, November 18th. Morgan Stanley upped their price target on Lowe’s Companies from $265.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, January 18th. Loop Capital upped their price target on Lowe’s Companies from $220.00 to $240.00 and gave the stock a “hold” rating in a report on Thursday, November 18th. Barclays upped their price target on Lowe’s Companies from $215.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, November 18th. Finally, Evercore ISI assumed coverage on Lowe’s Companies in a report on Tuesday, February 15th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Lowe’s Companies has an average rating of “Buy” and a consensus target price of $263.30.

Shares of NYSE LOW traded down $3.28 during trading on Thursday, reaching $222.60. 142,830 shares of the stock traded hands, compared to its average volume of 3,767,133. Lowe’s Companies, Inc. has a 52-week low of $166.46 and a 52-week high of $263.31. The company has a 50-day moving average of $233.64 and a 200-day moving average of $229.75. The stock has a market capitalization of $149.98 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 1.37 and a beta of 1.34.

Lowe’s Companies (NYSE:LOW – Get Rating) last issued its quarterly earnings data on Wednesday, February 23rd. The home improvement retailer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $21.34 billion for 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 quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. Equities analysts anticipate that Lowe’s Companies, Inc. will post 13.37 earnings per share for the current year.

Lowe’s Companies announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 15th that authorizes the company to buyback $13.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Lowe’s Companies 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:LOW – Get Rating).

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

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