Telsey Advisory Group Promotes Lowe’s Companies: A Closer Look at Fund Sentiment
On November 8, 2024, Telsey Advisory Group raised its rating for Lowe’s Companies (WBAG:LOWE) from Market Perform to Outperform.
Understanding Fund Sentiment
Currently, there are 3,627 funds or institutions with investments in Lowe’s Companies. This marks an increase of 79 funds, or 2.23%, in the past quarter. The average portfolio weight dedicated to LOWE has risen to 0.52%, up by 2.09%. In total, institutional ownership grew by 2.71% over the last three months, amounting to 483,723K shares.
JPMorgan Chase currently holds 26,275K shares, accounting for 4.63% of the company. This represents a 5.00% increase from the previous report, although the firm’s total share allocation in LOWE decreased by 91.92% over the past quarter.
The Vanguard Total Stock Market Index Fund Investor Shares owns 17,998K shares, which is 3.17% of Lowe’s. This indicates a minor decrease of 0.49% from its earlier total of 18,086K shares, alongside a portfolio allocation drop of 16.25% in the last quarter.
The Vanguard 500 Index Fund Investor Shares holds 14,686K shares, equating to 2.59% ownership. This marks a 1.31% increase from their previous reporting of 14,493K shares, yet they also reduced their portfolio share in LOWE by 16.99% within the last quarter.
Geode Capital Management now owns 11,546K shares, translating to 2.04% ownership, reflecting a 1.20% rise from 11,408K shares previously held. Nevertheless, their allocation in Lowe’s fell significantly by 56.60% over the last quarter.
Wells Fargo’s stake is currently 11,061K shares, representing 1.95% ownership. This share count has decreased by 1.48% from last quarter’s 11,225K shares, with a notable reduction of 71.31% in portfolio allocation.
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