Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,515 shares of the home improvement retailer’s stock after purchasing an additional 7,989 shares during the period. Royal London Asset Management Ltd.’s holdings in Lowe’s Companies were worth $61,334,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC increased its holdings 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 valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. State Street Corp increased its holdings 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 valued at $6,774,948,000 after purchasing an additional 460,851 shares during the period. Geode Capital Management LLC increased its holdings 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 valued at $3,169,041,000 after purchasing an additional 187,473 shares during the period. Bank of New York Mellon Corp increased its holdings 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 valued at $1,033,283,000 after purchasing an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. grew 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 during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler cut their price objective on Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Sanford C. Bernstein increased their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Truist Financial cut their price objective on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Finally, Evercore ISI increased their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $226.17 on Friday. The stock’s 50-day moving average is $248.40 and its 200-day moving average is $257.85. The company has a market cap of $127.70 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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 company had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS 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.