Rialto Wealth Management LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Rialto Wealth Management LLC purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 280 shares of the home improvement retailer’s stock, valued at approximately $69,000.

A number of other hedge funds have also modified their holdings of the company. FMR LLC raised its holdings in Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. State Street Corp increased its position 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 valued at $6,774,948,000 after buying an additional 460,851 shares in the last quarter. Geode Capital Management LLC raised its stake in Lowe’s Companies by 1.6% during 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 raised its stake in Lowe’s Companies by 10.2% during 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 Lowe’s Companies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock worth $853,697,000 after acquiring an additional 90,012 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $242.84 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The firm has a market capitalization of $137.12 billion, a PE ratio of 20.25, a P/E/G ratio of 1.96 and a beta of 1.12. The company’s 50-day moving average is $251.90 and its 200-day moving average is $259.14.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (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 for the quarter, compared to analyst estimates of $18.29 billion. As a group, analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LOW. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Stifel Nicolaus raised their target price 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. Sanford C. Bernstein lifted their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Royal Bank of Canada lowered their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Finally, Evercore ISI boosted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.83.

About Lowe’s Companies

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.