1ST Source Bank Sells 86 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

1ST Source Bank lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,443 shares of the home improvement retailer’s stock after selling 86 shares during the period. 1ST Source Bank’s holdings in Lowe’s Companies were worth $2,577,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Clearwater Capital Advisors LLC lifted its position in shares of Lowe’s Companies by 45.2% in the 4th quarter. Clearwater Capital Advisors LLC now owns 1,096 shares of the home improvement retailer’s stock worth $270,000 after purchasing an additional 341 shares during the period. Signaturefd LLC lifted its position in shares of Lowe’s Companies by 0.5% in the 4th quarter. Signaturefd LLC now owns 15,324 shares of the home improvement retailer’s stock worth $3,782,000 after purchasing an additional 77 shares during the period. Parallel Advisors LLC lifted its position in shares of Lowe’s Companies by 2.2% in the 4th quarter. Parallel Advisors LLC now owns 8,606 shares of the home improvement retailer’s stock worth $2,124,000 after purchasing an additional 184 shares during the period. Cibc World Markets Corp lifted its position in shares of Lowe’s Companies by 15.7% in the 4th quarter. Cibc World Markets Corp now owns 89,538 shares of the home improvement retailer’s stock worth $22,098,000 after purchasing an additional 12,180 shares during the period. Finally, Gray Wealth Management Inc. lifted its position in shares of Lowe’s Companies by 17.4% in the 4th quarter. Gray Wealth Management Inc. now owns 936 shares of the home improvement retailer’s stock worth $231,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

LOW has been the subject of several research reports. Truist Financial lowered their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their target price on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus increased their target price on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, 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 report on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $280.83.

Lowe’s Companies Price Performance

NYSE:LOW opened at $224.64 on Monday. The firm has a market capitalization of $126.84 billion, a P/E ratio of 18.74, a PEG ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The company’s fifty day moving average price is $250.18 and its 200-day moving average price is $258.63.

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%. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS 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.