iA Global Asset Management Inc. Has $4.59 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

iA Global Asset Management Inc. raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 24.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,582 shares of the home improvement retailer’s stock after purchasing an additional 3,670 shares during the period. iA Global Asset Management Inc.’s holdings in Lowe’s Companies were worth $4,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LOW. United Bank increased its holdings in shares of Lowe’s Companies by 1.4% in the third quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock valued at $2,735,000 after purchasing an additional 137 shares during the last quarter. Prospera Private Wealth LLC increased its holdings in shares of Lowe’s Companies by 40.2% in the third quarter. Prospera Private Wealth LLC now owns 1,283 shares of the home improvement retailer’s stock valued at $348,000 after purchasing an additional 368 shares during the last quarter. Strategy Asset Managers LLC increased its holdings in shares of Lowe’s Companies by 8.8% in the third quarter. Strategy Asset Managers LLC now owns 1,689 shares of the home improvement retailer’s stock valued at $457,000 after purchasing an additional 136 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Lowe’s Companies by 23.7% in the third quarter. Jennison Associates LLC now owns 193,672 shares of the home improvement retailer’s stock valued at $52,456,000 after acquiring an additional 37,162 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Lowe’s Companies by 1.6% in the third quarter. First Horizon Advisors Inc. now owns 13,779 shares of the home improvement retailer’s stock valued at $3,732,000 after acquiring an additional 215 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LOW. Stifel Nicolaus upped their price target on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Evercore ISI upped their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research note on Thursday, December 12th. Bank of America decreased their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Truist Financial decreased 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, February 27th. Finally, StockNews.com downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $280.83.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $226.17 on Friday. The company has a 50 day simple moving average of $248.40 and a 200 day simple moving average of $257.85. The firm has a market cap of $127.70 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (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%. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

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.