Novus Advisors LLC Takes $235,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

Novus Advisors LLC acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 954 shares of the home improvement retailer’s stock, valued at approximately $235,000.

A number of other large investors also recently bought and sold shares of the business. FMR LLC boosted its holdings in Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after acquiring an additional 2,399,897 shares during the period. State Street Corp lifted its holdings in shares of 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 buying an additional 460,851 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 187,473 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Lowe’s Companies by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock worth $1,033,283,000 after buying an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Lowe’s Companies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock worth $853,697,000 after buying an additional 90,012 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

NYSE LOW opened at $243.50 on Friday. The company has a market cap of $137.49 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The stock’s 50 day simple moving average is $252.01 and its 200-day simple moving average is $259.01. 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 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 firm had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein upped their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Royal Bank of Canada decreased their price objective 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. Mizuho decreased their price objective on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Truist Financial decreased their price objective 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. Finally, Barclays upped their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.