Meridian Wealth Management LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 100.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,158 shares of the home improvement retailer’s stock after purchasing an additional 15,612 shares during the quarter. Meridian Wealth Management LLC’s holdings in Lowe’s Companies were worth $6,492,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in LOW. FirstPurpose Wealth LLC raised its stake in shares of Lowe’s Companies by 3.5% in the second quarter. FirstPurpose Wealth LLC now owns 1,271 shares of the home improvement retailer’s stock worth $287,000 after acquiring an additional 43 shares during the last quarter. Invst LLC raised its stake in shares of Lowe’s Companies by 1.1% during the second quarter. Invst LLC now owns 4,090 shares of the home improvement retailer’s stock worth $923,000 after buying an additional 44 shares during the last quarter. Berkeley Capital Partners LLC raised its stake in shares of Lowe’s Companies by 4.2% during the second quarter. Berkeley Capital Partners LLC now owns 1,119 shares of the home improvement retailer’s stock worth $253,000 after buying an additional 45 shares during the last quarter. Goldstein Advisors LLC raised its stake in shares of Lowe’s Companies by 4.2% during the second quarter. Goldstein Advisors LLC now owns 1,130 shares of the home improvement retailer’s stock worth $255,000 after buying an additional 46 shares during the last quarter. Finally, Veracity Capital LLC raised its stake in shares of Lowe’s Companies by 1.7% during the second quarter. Veracity Capital LLC now owns 2,858 shares of the home improvement retailer’s stock worth $645,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently weighed in on LOW. Royal Bank of Canada dropped their price target on shares of Lowe’s Companies from $194.00 to $190.00 and set a “sector perform” rating for the company in a research note on Monday, November 27th. Sanford C. Bernstein upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $252.00 to $282.00 in a report on Tuesday, September 5th. Piper Sandler decreased their price objective on shares of Lowe’s Companies from $240.00 to $218.00 and set an “overweight” rating for the company in a report on Wednesday, November 22nd. Stifel Nicolaus cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating and boosted their price objective for the company from $235.00 to $240.00 in a report on Wednesday, December 20th. Finally, HSBC started coverage on shares of Lowe’s Companies in a report on Friday, September 22nd. They set a “hold” rating and a $250.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.21.
Check Out Our Latest Analysis on LOW
Lowe’s Companies Stock Down 0.2 %
Shares of LOW traded down $0.55 during trading hours on Monday, hitting $223.00. The company had a trading volume of 2,368,800 shares, compared to its average volume of 2,870,026. The firm has a market cap of $128.25 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.58 and a beta of 1.05. The business has a fifty day moving average of $201.47 and a 200-day moving average of $214.07. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $237.21.
Lowe’s Companies (NYSE:LOW – Get Free Report) last issued its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.03. The company had revenue of $20.74 billion for the quarter, compared to analyst estimates of $20.87 billion. Lowe’s Companies had a net margin of 8.49% and a negative return on equity of 54.56%. The company’s revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.27 earnings per share. On average, equities analysts expect that Lowe’s Companies, Inc. will post 13.02 EPS for the current fiscal year.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.
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