SBI Securities Co. Ltd. Purchases Shares of 1,524 Lowe’s Companies, Inc. (NYSE:LOW)

SBI Securities Co. Ltd. purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,524 shares of the home improvement retailer’s stock, valued at approximately $376,000.

Several other hedge funds also recently added to or reduced their stakes in LOW. StoneX Group Inc. acquired a new position in shares of Lowe’s Companies in the third quarter worth about $2,713,000. Principal Financial Group Inc. raised its position in shares of Lowe’s Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after acquiring an additional 24,812 shares during the period. Miracle Mile Advisors LLC raised its position in shares of Lowe’s Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after acquiring an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Lowe’s Companies by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after acquiring an additional 4,435 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its position in shares of Lowe’s Companies by 2.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock worth $4,894,000 after acquiring an additional 501 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $239.71 on Wednesday. The firm has a 50 day simple moving average of $252.28 and a 200-day simple moving average of $259.23. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The stock has a market cap of $135.35 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Equities analysts expect 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 weighed in on LOW. Sanford C. Bernstein upped their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Bank of America decreased their price objective on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. DA Davidson upped their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Finally, Truist Financial reduced their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies 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.