OVERSEA CHINESE BANKING Corp Ltd Acquires New Stake in Lowe’s Companies, Inc. (NYSE:LOW)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 890 shares of the home improvement retailer’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LOW. IFS Advisors LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Lowe’s Companies during the 3rd quarter worth $27,000. Winch Advisory Services LLC boosted its position in shares of Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 44 shares in the last quarter. Marshall Investment Management LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth $31,000. Finally, Financial Life Planners purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth $45,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

LOW opened at $226.17 on Friday. The stock has a market capitalization of $127.70 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The business has a 50-day moving average of $248.40 and a two-hundred day moving average of $257.85. 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 posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $18.29 billion. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Analyst Ratings Changes

LOW has been the topic of several research analyst reports. BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Truist Financial cut their price target on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada cut their price target on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. 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 research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus price target of $280.83.

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.