Picton Mahoney Asset Management Makes New Investment in Lowe’s Companies, Inc. $LOW

Picton Mahoney Asset Management purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 3,565 shares of the home improvement retailer’s stock, valued at approximately $896,000.

A number of other hedge funds have also recently modified their holdings of LOW. Vanguard Group Inc. grew its position in shares of Lowe’s Companies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 55,306,162 shares of the home improvement retailer’s stock worth $13,898,992,000 after buying an additional 329,807 shares during the last quarter. State Street Corp increased its holdings in Lowe’s Companies by 0.8% in the 2nd quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock worth $5,527,176,000 after buying an additional 207,826 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Lowe’s Companies by 0.3% during the second quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock valued at $2,732,049,000 after purchasing an additional 42,190 shares during the last quarter. Norges Bank bought a new stake in shares of Lowe’s Companies in the second quarter worth $1,773,624,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Lowe’s Companies by 12.1% in the third quarter. Bank of New York Mellon Corp now owns 4,294,776 shares of the home improvement retailer’s stock worth $1,079,320,000 after buying an additional 463,012 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $251.89 on Friday. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year high of $293.06. The firm has a market cap of $141.30 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 5.53 and a beta of 0.98. The firm’s fifty day moving average is $268.21 and its two-hundred day moving average is $254.63.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, February 25th. The home improvement retailer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.04. The business had revenue of $20.58 billion for the quarter, compared to analysts’ expectations of $20.34 billion. Lowe’s Companies had a net margin of 7.71% and a negative return on equity of 61.40%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $1.93 EPS. Lowe’s Companies has set its FY 2026 guidance at 12.250-12.75 EPS. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction on Friday, January 9th. The shares were sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LOW has been the topic of a number of analyst reports. Guggenheim lifted their price objective on Lowe’s Companies from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Wells Fargo & Company increased their price target on shares of Lowe’s Companies from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Rothschild & Co Redburn boosted their target price on Lowe’s Companies from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Telsey Advisory Group raised their price target on Lowe’s Companies from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Finally, TD Cowen dropped their price objective on Lowe’s Companies from $295.00 to $280.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. Twenty-one research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.64.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.