Riverbend Wealth Management LLC Purchases New Position in Lowe’s Companies, Inc. (NYSE:LOW)

Riverbend Wealth Management LLC acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,562 shares of the home improvement retailer’s stock, valued at approximately $386,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LOW. IFS Advisors LLC purchased a new position in Lowe’s Companies during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Lowe’s Companies in the third quarter valued at approximately $27,000. Winch Advisory Services LLC boosted its holdings in shares of Lowe’s Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 44 shares during the period. Marshall Investment Management LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $31,000. Finally, Financial Life Planners acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.2 %

LOW stock opened at $242.07 on Tuesday. The company has a market cap of $136.68 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.96 and a beta of 1.12. The firm has a 50 day moving average of $251.81 and a 200-day moving average of $259.27. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS 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 the consensus estimate of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LOW shares. Stifel Nicolaus increased their price target on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Piper Sandler decreased their target price on shares of Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Bank of America lowered their price target on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Truist Financial reduced their price objective on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.83.

Lowe’s Companies 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.