Mariner Wealth Advisors LLC boosted its position in Lowe's Companies, Inc. (NYSE:LOW) by 54.2% in the 4th quarter, Holdings Channel reports. The firm owned 22,761 shares of the home improvement retailer’s stock after purchasing an additional 8,000 shares during the period. Mariner Wealth Advisors LLC’s holdings in Lowe's Companies were worth $2,116,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Wealthfront Inc. grew its holdings in Lowe's Companies by 10.8% in the 4th quarter. Wealthfront Inc. now owns 18,055 shares of the home improvement retailer’s stock valued at $1,678,000 after buying an additional 1,763 shares during the period. Uncommon Cents Investing LLC purchased a new stake in Lowe's Companies in the 4th quarter valued at about $325,000. SNS Financial Group LLC purchased a new stake in Lowe's Companies in the 4th quarter valued at about $206,000. Itau Unibanco Holding S.A. grew its holdings in Lowe's Companies by 1,304.5% in the 4th quarter. Itau Unibanco Holding S.A. now owns 7,107 shares of the home improvement retailer’s stock valued at $661,000 after buying an additional 6,601 shares during the period. Finally, Taylor Hoffman Wealth Management purchased a new stake in Lowe's Companies in the 4th quarter valued at about $198,000. 73.78% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on LOW shares. Telsey Advisory Group upgraded Lowe's Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $83.00 to $124.00 in a report on Thursday, January 25th. BMO Capital Markets restated a “hold” rating and issued a $82.00 price target on shares of Lowe's Companies in a report on Thursday, November 2nd. Raymond James Financial upgraded Lowe's Companies from a “market perform” rating to an “outperform” rating and set a $87.00 price target for the company in a report on Monday, November 27th. Sanford C. Bernstein upgraded Lowe's Companies from an “underperform” rating to an “outperform” rating in a report on Monday, January 22nd. Finally, Zacks Investment Research upgraded Lowe's Companies from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $96.35.
In other Lowe's Companies news, insider Nelson B. Peace sold 3,352 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $80.20, for a total value of $268,830.40. Following the completion of the transaction, the insider now owns 4,650 shares in the company, valued at approximately $372,930. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.
Lowe's Companies, Inc. (NYSE LOW) opened at $97.49 on Friday. The firm has a market capitalization of $80,893.40, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19. Lowe's Companies, Inc. has a fifty-two week low of $70.76 and a fifty-two week high of $108.98. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.02 and a quick ratio of 0.12.
Lowe's Companies declared that its board has authorized a share buyback program on Friday, January 26th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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Lowe's Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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