Lowe’s Companies, Inc. (NYSE:LOW) Stock Holdings Increased by Summit X LLC

Summit X LLC raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,619 shares of the home improvement retailer’s stock after acquiring an additional 127 shares during the period. Summit X LLC’s holdings in Lowe’s Companies were worth $399,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LOW. FMR LLC increased its position in shares of Lowe’s Companies by 10.2% during 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 purchasing an additional 2,399,897 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Lowe’s Companies in the 4th quarter worth $314,435,000. Strategic Financial Concepts LLC grew 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 worth $303,096,000 after acquiring an additional 1,223,116 shares during the last quarter. Amundi grew its holdings in shares of Lowe’s Companies by 60.1% in the 4th quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock worth $642,730,000 after acquiring an additional 976,823 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings 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 worth $208,843,000 after acquiring an additional 844,217 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Sanford C. Bernstein lifted their target price on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Evercore ISI lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a report on Thursday, December 12th. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Bank of America lowered their price target on 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 research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Stock Performance

LOW opened at $228.20 on Thursday. The company has a market cap of $128.86 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The stock has a 50-day moving average of $251.15 and a 200-day moving average of $258.93. Lowe’s Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its 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 negative return on equity of 47.55% and a net margin of 8.19%. The firm had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. On average, 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.