Sandy Spring Bank Lowers Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Sandy Spring Bank lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 55,872 shares of the home improvement retailer’s stock after selling 659 shares during the period. Sandy Spring Bank’s holdings in Lowe’s Companies were worth $13,789,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LOW. StoneX Group Inc. bought a new stake in shares of Lowe’s Companies during the third quarter valued at approximately $2,713,000. Principal Financial Group Inc. raised its position in shares of Lowe’s Companies by 4.0% during the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after buying an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC raised its position in shares of Lowe’s Companies by 288.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after buying an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Lowe’s Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after buying an additional 4,435 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its position in shares of Lowe’s Companies by 2.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock valued at $4,894,000 after buying an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LOW. Barclays lifted their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Evercore ISI lifted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. DA Davidson boosted their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Bank of America reduced their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Truist Financial reduced their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.83.

Lowe’s Companies Trading Up 1.1 %

Shares of LOW opened at $225.47 on Thursday. The firm has a market capitalization of $127.31 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The firm has a fifty day moving average price of $248.81 and a 200-day moving average price of $258.07.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The firm 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%. Analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

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.