Y Intercept Hong Kong Ltd Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Y Intercept Hong Kong Ltd bought a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,429 shares of the home improvement retailer’s stock, valued at approximately $353,000.

A number of other hedge funds have also recently modified their holdings of the business. Partners Wealth Management LLC bought a new position in Lowe’s Companies in the fourth quarter worth approximately $337,000. Black Diamond Financial LLC grew its stake in Lowe’s Companies by 10.7% in the fourth quarter. Black Diamond Financial LLC now owns 1,815 shares of the home improvement retailer’s stock worth $448,000 after purchasing an additional 175 shares in the last quarter. World Equity Group Inc. bought a new position in Lowe’s Companies in the fourth quarter worth approximately $298,000. MONECO Advisors LLC grew its stake in Lowe’s Companies by 5.9% in the fourth quarter. MONECO Advisors LLC now owns 3,433 shares of the home improvement retailer’s stock worth $847,000 after purchasing an additional 190 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co grew its stake in Lowe’s Companies by 27.6% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 5,495 shares of the home improvement retailer’s stock worth $1,356,000 after purchasing an additional 1,190 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the topic of several research analyst reports. Piper Sandler dropped their price objective on Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company increased their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Wedbush reissued a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Barclays increased 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. Finally, Sanford C. Bernstein increased their target price on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. One 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. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $280.83.

Lowe’s Companies Stock Performance

Shares of LOW opened at $245.64 on Tuesday. The stock has a 50-day moving average of $252.49 and a two-hundred day moving average of $259.24. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The stock has a market cap of $138.70 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.96 and a beta of 1.11.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. 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.