Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 49,382 shares of the home improvement retailer’s stock after selling 613 shares during the period. Lowe’s Companies comprises about 1.3% of Tower Bridge Advisors’ investment portfolio, making the stock its 20th biggest holding. Tower Bridge Advisors’ holdings in Lowe’s Companies were worth $12,187,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of LOW. AMF Tjanstepension AB increased its stake in shares of Lowe’s Companies by 14.4% during the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after acquiring an additional 20,123 shares during the period. Goldstone Financial Group LLC acquired a new position in shares of Lowe’s Companies during the third quarter worth about $203,000. Reston Wealth Management LLC acquired a new position in shares of Lowe’s Companies during the third quarter worth about $64,000. Principal Securities Inc. increased its stake in shares of Lowe’s Companies by 20.1% during the third quarter. Principal Securities Inc. now owns 10,706 shares of the home improvement retailer’s stock worth $2,900,000 after acquiring an additional 1,792 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its stake in shares of Lowe’s Companies by 2.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 5,707 shares of the home improvement retailer’s stock worth $1,546,000 after acquiring an additional 111 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

NYSE:LOW opened at $248.71 on Friday. The firm has a 50 day simple moving average of $252.52 and a 200-day simple moving average of $258.89. The firm has a market cap of $140.43 billion, a PE ratio of 20.74, 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 posted its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion during the quarter, compared to analyst estimates 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, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on LOW shares. DA Davidson boosted their price objective on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Stifel Nicolaus boosted their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Bank of America decreased their price objective on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday. Truist Financial decreased their price objective on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Evercore ISI boosted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $280.83.

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.