Illumine Investment Management LLC Buys New Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Illumine Investment Management LLC acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,272 shares of the home improvement retailer’s stock, valued at approximately $314,000.

Several other institutional investors have also added to or reduced their stakes in LOW. AMF Tjanstepension AB lifted its holdings in Lowe’s Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after buying an additional 20,123 shares during the period. Lodestar Private Asset Management LLC bought a new position in Lowe’s Companies in the 3rd quarter worth $204,000. Cornerstone Wealth Group LLC lifted its position in shares of Lowe’s Companies by 0.8% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 25,852 shares of the home improvement retailer’s stock worth $7,002,000 after purchasing an additional 195 shares during the period. Solidarity Wealth LLC bought a new stake in shares of Lowe’s Companies during the 3rd quarter valued at about $203,000. Finally, Goldstone Financial Group LLC bought a new position in Lowe’s Companies in the third quarter worth about $203,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LOW. Piper Sandler dropped their price target on Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating on the stock in a research report on Thursday. Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. DA Davidson lifted their price objective on 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 cut their target price on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Mizuho reduced their price objective on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.83.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $245.87 on Friday. The firm has a market cap of $138.83 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The firm’s 50 day simple moving average is $252.50 and its 200-day simple moving average is $258.77. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released 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 firm had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Equities 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, 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.