Vanguard Group Inc. Purchases 329,807 Shares of Lowe’s Companies, Inc. $LOW

Vanguard Group Inc. raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,306,162 shares of the home improvement retailer’s stock after buying an additional 329,807 shares during the period. Vanguard Group Inc. owned about 9.86% of Lowe’s Companies worth $13,898,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LOW. Howard Hughes Medical Institute purchased a new stake in shares of Lowe’s Companies during the second quarter worth about $27,000. Solstein Capital LLC boosted its holdings in Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after buying an additional 113 shares in the last quarter. Activest Wealth Management grew its position in Lowe’s Companies by 78.5% during the third quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 51 shares during the period. Traub Capital Management LLC acquired a new stake in Lowe’s Companies during the second quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC increased its holdings in Lowe’s Companies by 128.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 76 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LOW. Gordon Haskett increased their price target on Lowe’s Companies from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Jefferies Financial Group boosted their price target on shares of Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Truist Financial set a $295.00 price objective on shares of Lowe’s Companies in a research report on Friday, January 16th. UBS Group decreased their price objective on Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Finally, Robert W. Baird lowered their price target on Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Twenty analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $287.22.

Insiders Place Their Bets

In related news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the sale, the chief executive officer owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies Price Performance

NYSE LOW opened at $287.36 on Monday. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $293.06. The company has a market capitalization of $161.19 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 4.48 and a beta of 0.97. The firm’s fifty day moving average price is $261.04 and its 200 day moving average price is $251.90.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The business had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. During the same period in the prior year, the company earned $2.89 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.