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

Illumine Investment Management LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,272 shares of the home improvement retailer’s stock, valued at approximately $314,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. StoneX Group Inc. acquired a new stake in shares of Lowe’s Companies in the third quarter worth $2,713,000. Principal Financial Group Inc. lifted its stake in shares of Lowe’s Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after purchasing an additional 24,812 shares during the period. Miracle Mile Advisors LLC boosted its holdings in Lowe’s Companies by 288.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after buying an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Lowe’s Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after buying an additional 4,435 shares during the period. Finally, Nations Financial Group Inc. IA ADV grew its position in Lowe’s Companies by 2.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock valued at $4,894,000 after buying an additional 501 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LOW. Sanford C. Bernstein increased their target price on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Stifel Nicolaus boosted their price target on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Barclays lifted their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Wedbush restated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Guggenheim reaffirmed a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $280.83.

Lowe’s Companies Stock Performance

Shares of LOW opened at $245.87 on Friday. The stock has a market capitalization of $138.83 billion, a P/E ratio of 20.51, a P/E/G ratio of 1.96 and a beta of 1.11. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The company’s fifty day moving average is $252.50 and its two-hundred day moving average is $258.77.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results 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. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current 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.