Simplicity Wealth LLC Sells 5,810 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Simplicity Wealth LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 47.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,310 shares of the home improvement retailer’s stock after selling 5,810 shares during the period. Simplicity Wealth LLC’s holdings in Lowe’s Companies were worth $1,557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. StoneX Group Inc. bought a new position in shares of Lowe’s Companies during the third quarter valued at approximately $2,713,000. Principal Financial Group Inc. boosted its stake in Lowe’s Companies by 4.0% in 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 acquiring an additional 24,812 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in Lowe’s Companies by 288.6% in 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 acquiring an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Lowe’s Companies by 1.2% in 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 acquiring an additional 4,435 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in Lowe’s Companies by 2.6% in 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 acquiring an additional 501 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on LOW shares. Barclays raised their target price on shares of 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. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Bank of America lowered their target price on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Truist Financial lowered their target price on shares of 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, Sanford C. Bernstein raised their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $280.83.

Lowe’s Companies Stock Performance

LOW stock opened at $242.84 on Monday. The firm has a market cap of $137.12 billion, a PE ratio of 20.25, a P/E/G ratio of 1.96 and a beta of 1.12. The firm’s fifty day moving average is $251.90 and its 200 day moving average is $259.25. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate 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 net margin of 8.19% and a negative return on equity of 47.55%. Research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

About Lowe’s Companies

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.