Convergence Financial LLC Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Convergence Financial LLC raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,553 shares of the home improvement retailer’s stock after purchasing an additional 202 shares during the period. Convergence Financial LLC’s holdings in Lowe’s Companies were worth $1,864,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Klingenstein Fields & Co. LP lifted its holdings in Lowe’s Companies by 1.0% in the 4th quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock valued at $1,012,000 after purchasing an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in Lowe’s Companies by 0.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after buying an additional 40 shares during the period. Saxony Capital Management LLC boosted its position in Lowe’s Companies by 4.2% during the 4th quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock worth $245,000 after purchasing an additional 40 shares during the period. Powers Advisory Group LLC grew its stake in shares of Lowe’s Companies by 2.7% in the fourth quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock valued at $380,000 after buying an additional 40 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Lowe’s Companies by 1.6% during the third quarter. Chicago Partners Investment Group LLC now owns 2,604 shares of the home improvement retailer’s stock valued at $703,000 after purchasing an additional 41 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

LOW opened at $247.16 on Thursday. The firm has a market capitalization of $139.56 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The company has a fifty day moving average price of $252.48 and a 200-day moving average price of $258.86. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. On average, analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Analysts Set New Price Targets

LOW has been the topic of several research analyst reports. Barclays raised 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 reiterated a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Sanford C. Bernstein boosted their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Evercore ISI upped their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $282.96.

About Lowe’s Companies

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.