Vinva Investment Management Ltd Purchases 5,913 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Vinva Investment Management Ltd lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 97.6% in the 4th quarter, Holdings Channel reports. The fund owned 11,972 shares of the home improvement retailer’s stock after buying an additional 5,913 shares during the quarter. Vinva Investment Management Ltd’s holdings in Lowe’s Companies were worth $2,954,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LOW. United Bank grew its stake in shares of Lowe’s Companies by 1.4% during the 3rd quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock worth $2,735,000 after acquiring an additional 137 shares during the period. BIP Wealth LLC bought a new position in shares of Lowe’s Companies during the 3rd quarter worth $328,000. Fifth Third Wealth Advisors LLC boosted its stake in Lowe’s Companies by 9.0% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 6,940 shares of the home improvement retailer’s stock worth $1,880,000 after purchasing an additional 571 shares during the period. West Family Investments Inc. boosted its stake in Lowe’s Companies by 43.5% in the 3rd quarter. West Family Investments Inc. now owns 1,583 shares of the home improvement retailer’s stock worth $429,000 after purchasing an additional 480 shares during the period. Finally, Premier Fund Managers Ltd boosted its stake in Lowe’s Companies by 1.6% in the 3rd quarter. Premier Fund Managers Ltd now owns 275,438 shares of the home improvement retailer’s stock worth $73,575,000 after purchasing an additional 4,300 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $225.47 on Thursday. The business’s 50 day simple moving average is $248.81 and its two-hundred day simple moving average is $258.07. The stock has a market capitalization of $127.31 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced 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 business had revenue of $18.55 billion for 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%. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on LOW shares. Sanford C. Bernstein raised their target price 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. Stifel Nicolaus raised their target price on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Finally, Piper Sandler cut their target price on Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.