Altus Wealth Group LLC raised its position in Lowe's Companies, Inc. (NYSE:LOW – Get Rating) by 30.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,967 shares of the home improvement retailer's stock after acquiring an additional 693 shares during the period. Altus Wealth Group LLC's holdings in Lowe's Companies were worth $591,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Standard Family Office LLC acquired a new position in shares of Lowe's Companies in the 3rd quarter worth approximately $26,000. Legend Financial Advisors Inc. acquired a new position in shares of Lowe's Companies in the 3rd quarter worth approximately $26,000. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Lowe's Companies in the 4th quarter worth approximately $28,000. Northwest Investment Counselors LLC lifted its holdings in shares of Lowe's Companies by 56.0% in the 3rd quarter. Northwest Investment Counselors LLC now owns 142 shares of the home improvement retailer's stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Finally, Blume Capital Management Inc. lifted its holdings in shares of Lowe's Companies by 70.6% in the 3rd quarter. Blume Capital Management Inc. now owns 145 shares of the home improvement retailer's stock worth $27,000 after acquiring an additional 60 shares during the last quarter. 72.62% of the stock is currently owned by institutional investors and hedge funds.
Get Lowe's Companies alerts:Insider Buying and Selling
In related news, EVP Donald Frieson sold 9,411 shares of the stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the completion of the sale, the executive vice president now owns 17,888 shares in the company, valued at approximately $3,523,936. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on LOW. Credit Suisse Group initiated coverage on shares of Lowe's Companies in a report on Monday, December 19th. They issued a "neutral" rating and a $210.00 price objective on the stock. StockNews.com lowered shares of Lowe's Companies from a "buy" rating to a "hold" rating in a report on Wednesday, March 15th. Sanford C. Bernstein initiated coverage on shares of Lowe's Companies in a report on Tuesday, December 6th. They set a "market perform" rating and a $237.00 target price on the stock. Telsey Advisory Group reduced their target price on shares of Lowe's Companies from $250.00 to $235.00 and set an "outperform" rating on the stock in a report on Thursday, March 2nd. Finally, Robert W. Baird reduced their target price on shares of Lowe's Companies from $250.00 to $235.00 in a report on Wednesday, March 1st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $225.00.
Lowe's Companies Stock Down 0.4 %
NYSE:LOW traded down $0.82 during trading hours on Friday, reaching $188.87. 347,621 shares of the company's stock were exchanged, compared to its average volume of 3,113,081. The firm has a market capitalization of $117.23 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.08 and a beta of 1.10. The company has a 50-day moving average of $204.87 and a 200 day moving average of $200.98. Lowe's Companies, Inc. has a 1-year low of $170.12 and a 1-year high of $223.31.
Lowe's Companies (NYSE:LOW – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The home improvement retailer reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.07. The firm had revenue of $22.40 billion during the quarter, compared to analysts' expectations of $22.71 billion. Lowe's Companies had a net margin of 6.63% and a negative return on equity of 82.30%. Lowe's Companies's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 EPS. Research analysts forecast that Lowe's Companies, Inc. will post 13.83 EPS for the current fiscal year.
Lowe's Companies Profile
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Lowe's Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, 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.
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