Jones Financial Companies Lllp Buys 70,706 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Jones Financial Companies Lllp raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 28.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 315,313 shares of the home improvement retailer’s stock after buying an additional 70,706 shares during the quarter. Jones Financial Companies Lllp’s holdings in Lowe’s Companies were worth $77,819,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of LOW. FMR LLC increased 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 acquiring an additional 2,399,897 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Lowe’s Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after purchasing an additional 1,223,116 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of Lowe’s Companies by 42,529.8% in the 4th quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock valued at $208,843,000 after purchasing an additional 844,217 shares during the last quarter. Applied Finance Capital Management LLC raised its holdings in shares of Lowe’s Companies by 387.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after buying an additional 645,017 shares in the last quarter. Finally, State Street Corp lifted its position in shares of 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 worth $6,774,948,000 after buying an additional 460,851 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $248.71 on Friday. Lowe’s Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01. The business’s 50 day simple moving average is $252.52 and its two-hundred day simple moving average is $259.05. The firm has a market cap of $140.43 billion, a P/E ratio of 20.74, a PEG ratio of 1.96 and a beta of 1.11.

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 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 for the quarter, compared to analysts’ expectations of $18.29 billion. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Piper Sandler lowered their target price on Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating for the company in a research note on Thursday. Evercore ISI raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. 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 report on Wednesday, November 20th. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Truist Financial dropped 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 note on Thursday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has an average 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.