Oppenheimer & Co. Inc. Increases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Oppenheimer & Co. Inc. increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,311 shares of the home improvement retailer’s stock after buying an additional 1,417 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Lowe’s Companies were worth $23,029,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in Lowe’s Companies during the third quarter worth $27,000. IFS Advisors LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth $25,000. Marshall Investment Management LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth $31,000. JNBA Financial Advisors increased its stake in Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Finally, Winch Advisory Services LLC increased its stake in Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after acquiring an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $247.16 on Thursday. 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 capitalization of $139.56 billion, a P/E ratio of 20.61, a PEG ratio of 1.96 and a beta of 1.11. The stock has a 50-day simple moving average of $252.48 and a 200-day simple moving average of $258.86.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Evercore ISI raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Mizuho lifted their price objective on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Wells Fargo & Company lifted their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus lifted their price objective 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, Truist Financial lifted their price objective on Lowe’s Companies from $307.00 to $308.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $282.96.

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.