Mystic Asset Management Inc. Purchases 15,639 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Mystic Asset Management Inc. increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 734.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,769 shares of the home improvement retailer’s stock after buying an additional 15,639 shares during the quarter. Lowe’s Companies accounts for 1.2% of Mystic Asset Management Inc.’s portfolio, making the stock its 17th largest position. Mystic Asset Management Inc.’s holdings in Lowe’s Companies were worth $4,385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IFS Advisors LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in Lowe’s Companies in the 3rd quarter worth $27,000. Winch Advisory Services LLC lifted its stake in Lowe’s Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 44 shares during the last quarter. Marshall Investment Management LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $31,000. Finally, Financial Life Planners bought a new position in shares of Lowe’s Companies during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.6 %

Shares of LOW stock opened at $225.85 on Tuesday. The company’s fifty day moving average price is $249.71 and its 200-day moving average price is $258.48. The stock has a market cap of $127.53 billion, a PE ratio of 18.84, 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 issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LOW. Piper Sandler lowered 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. Truist Financial lowered 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. Mizuho dropped their price objective on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Sanford C. Bernstein upped their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada dropped their price target on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. One 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $280.83.

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.