Lowe’s Companies, Inc. (LOW) Shares Bought by Commonwealth Bank of Australia

Commonwealth Bank of Australia lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,076 shares of the home improvement retailer’s stock after acquiring an additional 9,436 shares during the quarter. Commonwealth Bank of Australia’s holdings in Lowe’s Companies were worth $11,638,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Edgestream Partners L.P. increased its position in shares of Lowe’s Companies by 16.7% in the third quarter. Edgestream Partners L.P. now owns 4,085 shares of the home improvement retailer’s stock worth $469,000 after purchasing an additional 586 shares during the last quarter. First Mercantile Trust Co. increased its position in shares of Lowe’s Companies by 76.2% in the third quarter. First Mercantile Trust Co. now owns 1,727 shares of the home improvement retailer’s stock worth $198,000 after purchasing an additional 747 shares during the last quarter. Norinchukin Bank The increased its position in shares of Lowe’s Companies by 7.8% in the third quarter. Norinchukin Bank The now owns 145,230 shares of the home improvement retailer’s stock worth $16,675,000 after purchasing an additional 10,489 shares during the last quarter. Crabel Capital Management LLC bought a new position in shares of Lowe’s Companies in the third quarter worth approximately $219,000. Finally, Piedmont Investment Advisors Inc. increased its position in shares of Lowe’s Companies by 89.4% in the third quarter. Piedmont Investment Advisors Inc. now owns 67,299 shares of the home improvement retailer’s stock worth $7,727,000 after purchasing an additional 31,768 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on LOW. Wells Fargo & Co upped their price objective on shares of Lowe’s Companies from $110.00 to $120.00 in a research report on Thursday, February 28th. KeyCorp upped their price objective on shares of Lowe’s Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. Morgan Stanley upped their price objective on shares of Lowe’s Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. Wedbush increased their price target on shares of Lowe’s Companies from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. Finally, ValuEngine upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Lowe’s Companies presently has a consensus rating of “Buy” and a consensus target price of $113.13.

Shares of NYSE LOW opened at $100.14 on Friday. Lowe’s Companies, Inc. has a one year low of $81.16 and a one year high of $117.70. The company has a current ratio of 0.98, a quick ratio of 0.11 and a debt-to-equity ratio of 3.95. The company has a market cap of $80.41 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.27.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, February 27th. The home improvement retailer reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $15.65 billion during the quarter, compared to analyst estimates of $15.75 billion. Lowe’s Companies had a return on equity of 80.91% and a net margin of 3.24%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 6.06 EPS for the current fiscal year.

WARNING: This piece of content was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://sportsperspectives.com/2019/03/17/lowes-companies-inc-low-shares-bought-by-commonwealth-bank-of-australia.html.

About Lowe’s Companies

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

Featured Story: What is Depreciation?

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOW).

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

Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.