Flputnam Investment Management Co. Reduces Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Flputnam Investment Management Co. lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,570 shares of the home improvement retailer’s stock after selling 1,772 shares during the period. Flputnam Investment Management Co.’s holdings in Lowe’s Companies were worth $27,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LOW. StoneX Group Inc. purchased a new stake in Lowe’s Companies in the third quarter valued at $2,713,000. Principal Financial Group Inc. increased its position in shares of Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after purchasing an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in Lowe’s Companies by 288.6% in the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after buying an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in 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 valued at $98,104,000 after buying an additional 4,435 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in Lowe’s Companies by 2.6% during 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 buying an additional 501 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 1.3 %

Lowe’s Companies stock opened at $248.71 on Friday. The company has a fifty day simple moving average of $252.52 and a 200-day simple moving average of $258.89. The stock has a market cap of $140.43 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on LOW. DA Davidson boosted their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Royal Bank of Canada dropped their target price 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. Sanford C. Bernstein upped their price target on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research report on Wednesday. Finally, Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $280.83.

About Lowe’s Companies

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.