QRG Capital Management Inc. Has $37.71 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

QRG Capital Management Inc. lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 152,805 shares of the home improvement retailer’s stock after acquiring an additional 7,080 shares during the period. QRG Capital Management Inc.’s holdings in Lowe’s Companies were worth $37,712,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LOW. FMR LLC increased its stake in Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares in the last quarter. State Street Corp increased its stake in Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after purchasing an additional 460,851 shares in the last quarter. Geode Capital Management LLC increased its stake in Lowe’s Companies by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after purchasing an additional 187,473 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Lowe’s Companies by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock valued at $1,033,283,000 after purchasing an additional 385,994 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Lowe’s Companies by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock valued at $912,508,000 after purchasing an additional 39,953 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LOW shares. Mizuho boosted their price target on shares of Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Wednesday. DA Davidson upped their target price on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $282.96.

Lowe’s Companies Trading Up 2.0 %

Shares of Lowe’s Companies stock opened at $247.16 on Thursday. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The company has a market cap of $139.56 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.96 and a beta of 1.11. The company’s 50-day moving average price is $252.48 and its 200-day moving average price is $258.86.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. On average, sell-side analysts predict 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, 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.