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

NewEdge Wealth LLC lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.9% during the fourth quarter, Holdings Channel reports. The fund owned 125,325 shares of the home improvement retailer’s stock after selling 1,122 shares during the quarter. NewEdge Wealth LLC’s holdings in Lowe’s Companies were worth $30,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. IFS Advisors LLC acquired a new stake in Lowe’s Companies during the 4th quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Lowe’s Companies in the third quarter worth about $27,000. Winch Advisory Services LLC grew its holdings in Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after acquiring an additional 44 shares during the period. Marshall Investment Management LLC purchased a new position in Lowe’s Companies during the fourth quarter valued at approximately $31,000. Finally, JNBA Financial Advisors lifted its holdings in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $247.16 on Thursday. The stock’s 50 day simple moving average is $252.48 and its 200-day simple moving average is $258.86. The stock has a market cap of $139.56 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.96 and a beta of 1.11. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. DA Davidson raised their price objective on shares of 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 restated a “buy” rating and set a $300.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Sanford C. Bernstein increased their target price on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, Barclays lifted their price target on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.