Community Trust & Investment Co. Has $10.99 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Posted by Adam Masters on Mar 18th, 2023

Lowe's Companies logo Community Trust & Investment Co. decreased its position in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 2.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,162 shares of the home improvement retailer’s stock after selling 1,660 shares during the period. Community Trust & Investment Co.’s holdings in Lowe’s Companies were worth $10,990,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MADDEN SECURITIES Corp bought a new stake in Lowe’s Companies in the 4th quarter valued at $166,000. EWG Elevate Inc. bought a new stake in Lowe’s Companies during the 4th quarter worth about $60,000. Glassy Mountain Advisors Inc. bought a new stake in Lowe’s Companies during the 4th quarter worth about $7,694,000. Phocas Financial Corp. lifted its position in Lowe’s Companies by 3.2% during the 4th quarter. Phocas Financial Corp. now owns 2,230 shares of the home improvement retailer’s stock worth $444,000 after buying an additional 70 shares in the last quarter. Finally, RB Capital Management LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $216,000. Institutional investors and hedge funds own 72.62% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE:LOW traded down $2.31 during trading on Friday, hitting $197.36. The company’s stock had a trading volume of 7,271,376 shares, compared to its average volume of 3,178,252. The company has a 50-day moving average of $205.77 and a 200-day moving average of $201.03. Lowe’s Companies, Inc. has a 12 month low of $170.12 and a 12 month high of $238.37. The firm has a market cap of $122.50 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 1.13 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The home improvement retailer reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.07. Lowe’s Companies had a net margin of 6.63% and a negative return on equity of 82.30%. The firm had revenue of $22.40 billion for the quarter, compared to analysts’ expectations of $22.71 billion. During the same quarter in the prior year, the business earned $1.78 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 13.87 earnings per share for the current year.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Donald Frieson sold 9,411 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the completion of the sale, the executive vice president now directly owns 17,888 shares of the company’s stock, valued at approximately $3,523,936. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LOW shares. Telsey Advisory Group decreased their price target on shares of Lowe’s Companies from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, March 2nd. Barclays initiated coverage on shares of Lowe’s Companies in a research note on Tuesday, February 7th. They set an “equal weight” rating and a $215.00 price target for the company. Credit Suisse Group started coverage on shares of Lowe’s Companies in a research note on Monday, December 19th. They set a “neutral” rating and a $210.00 price target for the company. The Goldman Sachs Group increased their price objective on shares of Lowe’s Companies from $241.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, December 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lowe’s Companies from $230.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, March 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and a consensus price target of $224.81.

Lowe’s Companies Company Profile

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Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.