NewEdge Wealth LLC Cuts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

NewEdge Wealth LLC reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,325 shares of the home improvement retailer’s stock after selling 1,122 shares during the period. NewEdge Wealth LLC’s holdings in Lowe’s Companies were worth $30,930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Carlson Capital L.P. bought a new stake in shares of Lowe’s Companies in the 4th quarter worth about $568,000. Sabal Trust CO grew its position in Lowe’s Companies by 24.9% in the fourth quarter. Sabal Trust CO now owns 10,160 shares of the home improvement retailer’s stock worth $2,507,000 after acquiring an additional 2,028 shares in the last quarter. Fjell Capital LLC bought a new position in shares of Lowe’s Companies during the 4th quarter valued at approximately $492,000. Advisor OS LLC increased its position in Lowe’s Companies by 14.4% during the fourth quarter. Advisor OS LLC now owns 1,323 shares of the home improvement retailer’s stock valued at $326,000 after acquiring an additional 167 shares during the last quarter. Finally, DMKC Advisory Services LLC purchased a new stake in Lowe’s Companies in the 4th quarter worth about $1,895,000. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Up 2.0 %

Shares of Lowe’s Companies stock opened at $247.16 on Thursday. The firm has a market capitalization of $139.56 billion, a P/E ratio of 20.61, a PEG ratio of 1.96 and a beta of 1.11. Lowe’s Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01. The company has a 50 day moving average price of $252.48 and a 200 day moving average price of $258.86.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LOW shares. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. DA Davidson increased their target price on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Guggenheim reissued a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Mizuho upped their target price on shares of Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $282.96.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.