Legacy Bridge LLC Has $1.58 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Posted by admin on Mar 19th, 2023

Lowe's Companies logo Legacy Bridge LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 7,930 shares of the home improvement retailer’s stock after purchasing an additional 160 shares during the period. Lowe’s Companies comprises approximately 1.1% of Legacy Bridge LLC’s portfolio, making the stock its 21st largest holding. Legacy Bridge LLC’s holdings in Lowe’s Companies were worth $1,580,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Standard Family Office LLC acquired a new position in Lowe’s Companies during the 3rd quarter worth about $26,000. Legend Financial Advisors Inc. acquired a new position in Lowe’s Companies during the 3rd quarter worth about $26,000. Northwest Investment Counselors LLC lifted its holdings in Lowe’s Companies by 56.0% during the 3rd quarter. Northwest Investment Counselors LLC now owns 142 shares of the home improvement retailer’s stock worth $27,000 after buying an additional 51 shares during the period. Blume Capital Management Inc. lifted its holdings in Lowe’s Companies by 70.6% during the 3rd quarter. Blume Capital Management Inc. now owns 145 shares of the home improvement retailer’s stock worth $27,000 after buying an additional 60 shares during the period. Finally, McElhenny Sheffield Capital Management LLC acquired a new position in Lowe’s Companies during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 72.62% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Donald Frieson sold 9,411 shares of Lowe’s Companies stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the completion of the transaction, the executive vice president now owns 17,888 shares in the company, valued at approximately $3,523,936. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LOW. Robert W. Baird cut their target price on Lowe’s Companies from $250.00 to $235.00 in a report on Wednesday, March 1st. Barclays assumed coverage on Lowe’s Companies in a report on Tuesday, February 7th. They set an “equal weight” rating and a $215.00 target price on the stock. Roth Capital reissued a “neutral” rating on shares of Lowe’s Companies in a research report on Wednesday, March 1st. Telsey Advisory Group lowered their price objective on Lowe’s Companies from $250.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, March 2nd. Finally, StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $224.81.

Lowe’s Companies Stock Performance

LOW stock opened at $197.36 on Friday. The company has a market capitalization of $122.50 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. Lowe’s Companies, Inc. has a 52-week low of $170.12 and a 52-week high of $238.37. The business has a 50-day simple moving average of $205.77 and a two-hundred day simple moving average of $201.06.

Lowe’s Companies (NYSE:LOW – Get Rating) last released its quarterly earnings results on Wednesday, March 1st. The home improvement retailer reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.07. The business had revenue of $22.40 billion during the quarter, compared to the consensus estimate of $22.71 billion. Lowe’s Companies had a negative return on equity of 82.30% and a net margin of 6.63%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 13.83 earnings per share for the current fiscal year.

About Lowe’s Companies

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Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.