Lowe’s Companies, Inc. $LOW Shares Bought by Waycross Partners LLC

Waycross Partners LLC lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 22.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 130,927 shares of the home improvement retailer’s stock after purchasing an additional 23,735 shares during the quarter. Lowe’s Companies accounts for approximately 2.8% of Waycross Partners LLC’s holdings, making the stock its 13th largest position. Waycross Partners LLC’s holdings in Lowe’s Companies were worth $32,903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LOW. Maj Invest Holding A S lifted its position in shares of Lowe’s Companies by 15.7% in the third quarter. Maj Invest Holding A S now owns 802,990 shares of the home improvement retailer’s stock worth $201,801,000 after purchasing an additional 108,813 shares in the last quarter. Bridges Investment Management Inc. increased its stake in Lowe’s Companies by 13.4% in the 3rd quarter. Bridges Investment Management Inc. now owns 420,832 shares of the home improvement retailer’s stock valued at $105,759,000 after buying an additional 49,858 shares during the period. Facet Wealth Inc. purchased a new stake in Lowe’s Companies in the 3rd quarter worth approximately $558,000. Prudential Financial Inc. boosted its stake in shares of Lowe’s Companies by 0.7% during the 2nd quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock valued at $183,344,000 after buying an additional 5,820 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Lowe’s Companies by 22.0% during the 2nd quarter. Jennison Associates LLC now owns 497,628 shares of the home improvement retailer’s stock valued at $110,409,000 after acquiring an additional 89,839 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Marvin R. Ellison sold 18,000 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the transaction, the chief executive officer owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. The trade was a 7.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LOW. Gordon Haskett increased their price objective on Lowe’s Companies from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Evercore upped their target price on Lowe’s Companies from $250.00 to $280.00 in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lowe’s Companies in a report on Monday, December 29th. Citigroup boosted their price target on Lowe’s Companies from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Finally, Truist Financial set a $295.00 price objective on shares of Lowe’s Companies in a research report on Friday, January 16th. Twenty equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.22.

Lowe’s Companies Stock Down 2.3%

NYSE:LOW opened at $280.80 on Wednesday. The company’s 50 day moving average is $262.65 and its 200-day moving average is $252.73. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $293.06. The firm has a market cap of $157.51 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 4.48 and a beta of 0.97.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $2.89 EPS. Research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.