Premier Fund Managers Ltd Has $39.40 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Premier Fund Managers Ltd cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 18.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,358 shares of the home improvement retailer’s stock after selling 53,956 shares during the period. Lowe’s Companies comprises approximately 1.7% of Premier Fund Managers Ltd’s portfolio, making the stock its 6th biggest holding. Premier Fund Managers Ltd’s holdings in Lowe’s Companies were worth $39,396,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LOW. WealthStone Inc. grew its holdings in Lowe’s Companies by 2.1% during the fourth quarter. WealthStone Inc. now owns 3,177 shares of the home improvement retailer’s stock valued at $510,000 after purchasing an additional 65 shares during the period. Seeyond grew its holdings in Lowe’s Companies by 0.6% during the third quarter. Seeyond now owns 11,277 shares of the home improvement retailer’s stock valued at $1,870,000 after purchasing an additional 67 shares during the period. Ellenbecker Investment Group grew its holdings in Lowe’s Companies by 5.1% during the fourth quarter. Ellenbecker Investment Group now owns 1,380 shares of the home improvement retailer’s stock valued at $221,000 after purchasing an additional 67 shares during the period. Glassman Wealth Services grew its holdings in Lowe’s Companies by 5.1% during the third quarter. Glassman Wealth Services now owns 1,452 shares of the home improvement retailer’s stock valued at $241,000 after purchasing an additional 70 shares during the period. Finally, Hyman Charles D grew its holdings in Lowe’s Companies by 1.4% during the third quarter. Hyman Charles D now owns 5,569 shares of the home improvement retailer’s stock valued at $924,000 after purchasing an additional 75 shares during the period. 76.11% of the stock is owned by institutional investors.

A number of research firms have recently commented on LOW. Truist reaffirmed a “buy” rating and issued a $178.00 price target on shares of Lowe’s Companies in a report on Friday, November 20th. Royal Bank of Canada cut their price target on Lowe’s Companies from $186.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, November 19th. Wells Fargo & Company raised their price target on Lowe’s Companies from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, February 18th. Gordon Haskett lowered Lowe’s Companies from a “buy” rating to an “accumulate” rating and set a $181.00 price target for the company. in a report on Thursday, November 12th. Finally, FIG Partners raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a report on Tuesday, December 8th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $172.42.

Shares of NYSE:LOW traded down $7.27 on Tuesday, reaching $165.14. 47,536 shares of the company traded hands, compared to its average volume of 3,671,564. The business’s 50-day simple moving average is $171.38 and its 200 day simple moving average is $164.04. Lowe’s Companies, Inc. has a 52 week low of $60.00 and a 52 week high of $180.67. The stock has a market capitalization of $121.00 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.37. The company has a current ratio of 1.38, a quick ratio of 0.57 and a debt-to-equity ratio of 5.20.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.

Further Reading: What is meant by a buy rating?

Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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