Edge Capital Group LLC Makes New $238,000 Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Edge Capital Group LLC bought a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, HoldingsChannel.com reports. The fund bought 965 shares of the home improvement retailer’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LOW. Rothschild Investment LLC grew its position in Lowe’s Companies by 6.6% in the 4th quarter. Rothschild Investment LLC now owns 2,693 shares of the home improvement retailer’s stock valued at $665,000 after acquiring an additional 167 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of Lowe’s Companies by 0.7% during the fourth quarter. Crestwood Advisors Group LLC now owns 8,800 shares of the home improvement retailer’s stock valued at $2,172,000 after purchasing an additional 65 shares during the period. Midwest Capital Advisors LLC bought a new position in shares of Lowe’s Companies in the fourth quarter worth about $67,000. Y Intercept Hong Kong Ltd purchased a new position in Lowe’s Companies in the 4th quarter worth about $353,000. Finally, Partners Wealth Management LLC purchased a new position in Lowe’s Companies in the 4th quarter worth about $337,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LOW. Truist Financial upped their target price on shares of Lowe’s Companies from $307.00 to $308.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. 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. Guggenheim reaffirmed a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Mizuho lifted their price objective on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $282.96.

Insiders Place Their Bets

In other news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the transaction, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $236.66 on Tuesday. The stock’s fifty day moving average price is $252.84 and its 200 day moving average price is $258.90. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The company has a market cap of $133.63 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11.

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.