AlphaQuest LLC Acquires 6,803 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

AlphaQuest LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1,274.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,337 shares of the home improvement retailer’s stock after purchasing an additional 6,803 shares during the period. AlphaQuest LLC’s holdings in Lowe’s Companies were worth $1,811,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LOW. FMR LLC raised its position in Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after acquiring an additional 2,399,897 shares during the period. State Street Corp lifted its holdings in Lowe’s Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after purchasing an additional 460,851 shares in the last quarter. Geode Capital Management LLC boosted its stake in Lowe’s Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after purchasing an additional 187,473 shares during the period. Bank of New York Mellon Corp grew its holdings in Lowe’s Companies by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock valued at $1,033,283,000 after buying an additional 385,994 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Lowe’s Companies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock valued at $853,697,000 after buying an additional 90,012 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LOW shares. Guggenheim restated a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Truist Financial dropped their price objective on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, February 27th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Stifel Nicolaus increased their price target on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Finally, Bank of America cut their price target on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $242.84 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The company has a market cap of $137.12 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.96 and a beta of 1.12. The business’s 50 day moving average price is $251.90 and its 200-day moving average price is $259.14.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies 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.