WealthTrust Fairport LLC bought a new position in Lowe's Companies, Inc. (NYSE:LOW) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,350 shares of the home improvement retailer’s stock, valued at approximately $218,000.
Several other institutional investors and hedge funds also recently modified their holdings of LOW. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Lowe's Companies during the 2nd quarter worth about $233,000. Stonehearth Capital Management LLC acquired a new stake in shares of Lowe's Companies during the 4th quarter worth about $112,000. Atlantic Trust LLC purchased a new position in Lowe's Companies during the 2nd quarter valued at about $105,000. IHT Wealth Management LLC boosted its holdings in Lowe's Companies by 8.7% during the 2nd quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock valued at $154,000 after acquiring an additional 110 shares during the period. Finally, Cerebellum GP LLC purchased a new position in Lowe's Companies during the 4th quarter valued at about $129,000. 73.78% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on LOW. Stifel Nicolaus restated a “buy” rating and set a $103.00 target price on shares of Lowe's Companies in a report on Friday, December 22nd. Robert W. Baird set a $87.00 target price on Lowe's Companies and gave the company a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research upgraded Lowe's Companies from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a report on Friday, February 2nd. Telsey Advisory Group raised their target price on Lowe's Companies from $79.00 to $83.00 and gave the company an “outperform” rating in a report on Wednesday, November 22nd. Finally, Jefferies Group upgraded Lowe's Companies from a “hold” rating to a “buy” rating and raised their target price for the company from $81.00 to $129.00 in a report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Lowe's Companies currently has a consensus rating of “Buy” and an average target price of $96.35.
Lowe's Companies announced that its board has authorized a stock repurchase program on Friday, January 26th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
WARNING: This article was first reported by Ticker Report and is the property of of Ticker Report. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.tickerreport.com/banking-finance/3223925/wealthtrust-fairport-llc-takes-218000-position-in-lowes-companies-inc-low.html.
Lowe's Companies Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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).
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.