Lowe's Companies, Inc. (LOW) Shares Bought by Advisor Group Inc.
Advisor Group Inc. lifted its position in Lowe's Companies, Inc. (NYSE:LOW) by 22.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,578 shares of the home improvement retailer’s stock after buying an additional 24,632 shares during the quarter. Advisor Group Inc.’s holdings in Lowe's Companies were worth $12,322,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Almanack Investment Partners LLC. purchased a new stake in shares of Lowe's Companies in the 4th quarter valued at $106,000. Stonehearth Capital Management LLC purchased a new stake in shares of Lowe's Companies in the 4th quarter valued at $112,000. Atlantic Trust LLC purchased a new stake in shares of Lowe's Companies in the 2nd quarter valued at $105,000. IHT Wealth Management LLC raised its holdings in shares of Lowe's Companies by 8.7% in the 2nd quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock valued at $154,000 after buying an additional 110 shares during the period. Finally, Truewealth LLC purchased a new stake in Lowe's Companies during the 4th quarter worth about $128,000. Hedge funds and other institutional investors own 73.14% of the company’s stock.
Several equities research analysts have weighed in on LOW shares. Loop Capital started coverage on Lowe's Companies in a report on Thursday, March 1st. They set a “hold” rating and a $88.00 price target on the stock. BMO Capital Markets restated a “hold” rating and set a $95.00 price target (up previously from $82.00) on shares of Lowe's Companies in a report on Thursday, March 1st. Telsey Advisory Group upgraded Lowe's Companies from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $83.00 to $124.00 in a report on Thursday, January 25th. Credit Suisse Group restated an “outperform” rating and set a $111.00 price target on shares of Lowe's Companies in a report on Monday, March 5th. Finally, Raymond James Financial upgraded Lowe's Companies from a “market perform” rating to an “outperform” rating and set a $87.00 price target on the stock in a report on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. Lowe's Companies has a consensus rating of “Buy” and an average target price of $97.93.
Lowe's Companies (NYSE:LOW) last announced its earnings results on Wednesday, February 28th. The home improvement retailer reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.13). The firm had revenue of $15.49 billion during the quarter, compared to analyst estimates of $15.34 billion. Lowe's Companies had a net margin of 5.02% and a return on equity of 65.17%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. equities research analysts predict that Lowe's Companies, Inc. will post 5.47 earnings per share for the current year.
Lowe's Companies announced that its Board of Directors has initiated a share repurchase plan on Friday, January 26th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the home improvement retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
About Lowe's Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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