Summit X LLC Acquires 127 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Summit X LLC raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 8.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,619 shares of the home improvement retailer’s stock after acquiring an additional 127 shares during the period. Summit X LLC’s holdings in Lowe’s Companies were worth $399,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. StoneX Group Inc. acquired a new position in Lowe’s Companies in the 3rd quarter valued at approximately $2,713,000. Principal Financial Group Inc. raised its holdings in shares of Lowe’s Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after buying an additional 24,812 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Lowe’s Companies by 288.6% in the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after buying an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Lowe’s Companies by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after buying an additional 4,435 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of Lowe’s Companies by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock worth $4,894,000 after buying an additional 501 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

LOW opened at $228.20 on Thursday. The business’s 50-day moving average price is $251.15 and its two-hundred day moving average price is $258.93. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The company has a market capitalization of $128.86 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LOW. Sanford C. Bernstein increased their target price on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a report on Wednesday, February 26th. Finally, Barclays increased their target price on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.83.

About Lowe’s Companies

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.