Glenview Trust Co Acquires 14,764 Shares of Lowe’s Companies, Inc. $LOW

Glenview Trust Co grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 190,572 shares of the home improvement retailer’s stock after buying an additional 14,764 shares during the period. Lowe’s Companies makes up 0.8% of Glenview Trust Co’s investment portfolio, making the stock its 26th largest holding. Glenview Trust Co’s holdings in Lowe’s Companies were worth $47,893,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Activest Wealth Management boosted its position in shares of Lowe’s Companies by 78.5% during the 3rd quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 51 shares in the last quarter. Howard Hughes Medical Institute bought a new position in Lowe’s Companies in the second quarter worth approximately $27,000. Solstein Capital LLC grew its stake in Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after acquiring an additional 113 shares during the period. Traub Capital Management LLC bought a new stake in shares of Lowe’s Companies during the second quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC increased its holdings in shares of Lowe’s Companies by 128.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 76 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $287.36 on Tuesday. The firm has a market cap of $161.19 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 4.48 and a beta of 0.97. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $293.06. The firm’s 50-day simple moving average is $261.89 and its two-hundred day simple moving average is $252.35.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The company had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. During the same quarter last year, the business posted $2.89 EPS. Lowe’s Companies’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of recent research reports. Telsey Advisory Group cut their target price on Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Wolfe Research dropped their price objective on shares of Lowe’s Companies from $285.00 to $284.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 4th. DA Davidson reduced their price objective on shares of Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. JPMorgan Chase & Co. upped their target price on shares of Lowe’s Companies from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Finally, Robert W. Baird dropped their price target on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Twenty investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $287.22.

Insider Activity 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 stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the sale, the chief executive officer owned 231,043 shares in the company, valued at $60,341,500.31. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.27% of the company’s stock.

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.