Connable Office Inc. Has $3.54 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Connable Office Inc. raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,361 shares of the home improvement retailer’s stock after purchasing an additional 1,846 shares during the quarter. Connable Office Inc.’s holdings in Lowe’s Companies were worth $3,544,000 at the end of the most recent quarter.

Several other large investors 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 $2,713,000. Principal Financial Group Inc. increased its stake 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 last quarter. Miracle Mile Advisors LLC increased its stake 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 last quarter. Wealth Enhancement Advisory Services LLC increased its stake 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 last quarter. Finally, Nations Financial Group Inc. IA ADV increased its stake 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 last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Piper Sandler dropped their price target on shares of Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial dropped their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday. Mizuho dropped their price target on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday. 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 note on Wednesday, November 20th. Finally, Royal Bank of Canada decreased their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $280.83.

Lowe’s Companies Price Performance

LOW stock 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 company has a 50-day moving average of $252.52 and a two-hundred day moving average of $258.89. The stock has a market capitalization of $140.43 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Equities analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS 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.