IMG Wealth Management Inc. Takes $276,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

IMG Wealth Management Inc. bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the 4th quarter, Holdings Channel reports. The fund bought 1,119 shares of the home improvement retailer’s stock, valued at approximately $276,000.

Other hedge funds also recently modified their holdings of the company. StoneX Group Inc. bought a new position in shares of Lowe’s Companies in the 3rd quarter valued at about $2,713,000. Principal Financial Group Inc. boosted its stake in Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after acquiring an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in Lowe’s Companies by 288.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after acquiring an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Lowe’s Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after acquiring an additional 4,435 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in Lowe’s Companies by 2.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock worth $4,894,000 after acquiring an additional 501 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LOW. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Guggenheim reissued a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Royal Bank of Canada reduced their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Piper Sandler dropped their target price on shares of Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $280.83.

Lowe’s Companies Trading Up 0.9 %

Shares of LOW opened at $224.64 on Monday. The company has a market cap of $126.84 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.96 and a beta of 1.12. 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 simple moving average is $250.18 and its 200 day simple moving average is $258.63.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share 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 the consensus estimate of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies 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.