Moran Wealth Management LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Moran Wealth Management LLC acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 47,725 shares of the home improvement retailer’s stock, valued at approximately $11,779,000.

Several other institutional investors have also recently added to or reduced their stakes in LOW. FMR LLC grew its holdings in Lowe’s Companies by 10.2% in 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 buying an additional 2,399,897 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter worth approximately $314,435,000. Strategic Financial Concepts LLC grew its holdings in Lowe’s Companies by 24,531.0% in the fourth 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 during the period. Amundi increased its position in Lowe’s Companies by 60.1% during the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock worth $642,730,000 after purchasing an additional 976,823 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Lowe’s Companies by 42,529.8% during the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock worth $208,843,000 after purchasing an additional 844,217 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LOW has been the subject of several research reports. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Barclays upped their price target on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. DA Davidson raised their price objective on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Wedbush reiterated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Bank of America cut their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. 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. Based on data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $280.83.

Lowe’s Companies Stock Performance

Shares of LOW opened at $242.84 on Monday. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The stock has a 50-day moving average price of $251.90 and a 200 day moving average price of $259.25. The company has a market capitalization of $137.12 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.96 and a beta of 1.12.

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