Zurcher Kantonalbank Zurich Cantonalbank Purchases 100,836 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 74.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,029 shares of the home improvement retailer’s stock after acquiring an additional 100,836 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lowe’s Companies were worth $58,499,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. FMR LLC raised its position 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 buying an additional 2,399,897 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $314,435,000. Strategic Financial Concepts LLC raised its position in shares of Lowe’s Companies by 24,531.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after buying an additional 1,223,116 shares in the last quarter. Amundi raised its position in shares of Lowe’s Companies by 60.1% in the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock valued at $642,730,000 after buying an additional 976,823 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Lowe’s Companies by 42,529.8% in the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock valued at $208,843,000 after buying an additional 844,217 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Piper Sandler lowered their price objective on shares of 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. Finally, Evercore ISI boosted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $280.83.

Lowe’s Companies Trading Down 0.3 %

Shares of LOW opened at $242.84 on Monday. The stock has a market capitalization of $137.12 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The firm’s fifty day simple moving average is $251.90 and its two-hundred day simple moving average is $259.25. 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 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion for 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%. As a group, research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

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.