QRG Capital Management Inc. Increases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

QRG Capital Management Inc. increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,805 shares of the home improvement retailer’s stock after purchasing an additional 7,080 shares during the period. QRG Capital Management Inc.’s holdings in Lowe’s Companies were worth $37,712,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC increased its position in shares of 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 last quarter. State Street Corp increased its position in shares of Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after purchasing an additional 460,851 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Lowe’s Companies by 1.6% in the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after purchasing an additional 187,473 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Lowe’s Companies by 10.2% in the fourth 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 purchasing an additional 385,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Lowe’s Companies by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after purchasing an additional 39,953 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Wednesday. Truist Financial increased their price target on shares of Lowe’s Companies from $307.00 to $308.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada increased their price target on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Evercore ISI increased their price target 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. Finally, Stifel Nicolaus increased their price target on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Ten investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.96.

Lowe’s Companies Stock Up 2.0 %

Shares of LOW stock opened at $247.16 on Thursday. The stock has a fifty day moving average of $252.48 and a 200 day moving average of $258.86. Lowe’s Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01. The firm has a market capitalization of $139.56 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.96 and a beta of 1.11.

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. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

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.