Oppenheimer Asset Management Inc. Purchases 591 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Oppenheimer Asset Management Inc. increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 145,864 shares of the home improvement retailer’s stock after buying an additional 591 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lowe’s Companies were worth $35,999,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. boosted its holdings in Lowe’s Companies by 2.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 227,145 shares of the home improvement retailer’s stock worth $56,059,000 after buying an additional 4,400 shares during the period. Apriem Advisors boosted its holdings in Lowe’s Companies by 1.0% in the 4th quarter. Apriem Advisors now owns 7,361 shares of the home improvement retailer’s stock worth $1,817,000 after buying an additional 76 shares during the period. Convergence Financial LLC boosted its holdings in shares of Lowe’s Companies by 2.7% during the 4th quarter. Convergence Financial LLC now owns 7,553 shares of the home improvement retailer’s stock valued at $1,864,000 after purchasing an additional 202 shares during the last quarter. Heritage Investors Management Corp bought a new position in shares of Lowe’s Companies during the 4th quarter valued at about $227,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Lowe’s Companies during the 4th quarter valued at about $199,000. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Stifel Nicolaus increased their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a report on Wednesday. Finally, Royal Bank of Canada increased their price target on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $282.96.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $247.16 on Thursday. The firm has a market cap of $139.56 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The firm’s 50 day simple moving average is $252.48 and its 200-day simple moving average is $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 issued its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Company Profile

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.