Flputnam Investment Management Co. Trims Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Flputnam Investment Management Co. decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 110,570 shares of the home improvement retailer’s stock after selling 1,772 shares during the quarter. Flputnam Investment Management Co.’s holdings in Lowe’s Companies were worth $27,289,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in LOW. FMR LLC lifted its stake in Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after buying an additional 2,399,897 shares during the last quarter. State Street Corp raised its position in Lowe’s Companies by 1.9% in 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 during the last quarter. Geode Capital Management LLC boosted 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 worth $3,169,041,000 after purchasing an additional 187,473 shares during the period. Bank of New York Mellon Corp grew its position 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 worth $1,033,283,000 after purchasing an additional 385,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 worth $912,508,000 after purchasing an additional 39,953 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LOW shares. Piper Sandler decreased their target price on shares of Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating for the company in a research note on Thursday. Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Truist Financial dropped their target price on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday. DA Davidson upped their price target on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada lowered their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.83.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $248.71 on Friday. The stock has a fifty day moving average price of $252.52 and a 200 day moving average price of $258.89. The stock has a market cap of $140.43 billion, a PE ratio of 20.74, a P/E/G ratio of 1.96 and a beta of 1.11. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01.

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 for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. As a group, equities research 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.