Verdence Capital Advisors LLC Reduces Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Verdence Capital Advisors LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 33.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,241 shares of the home improvement retailer’s stock after selling 2,166 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Lowe’s Companies were worth $1,047,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LOW. FMR LLC grew its holdings in Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after buying an additional 2,399,897 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in Lowe’s Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after buying an additional 1,223,116 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Lowe’s Companies by 42,529.8% in the 4th quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock valued at $208,843,000 after buying an additional 844,217 shares in the last quarter. Applied Finance Capital Management LLC grew its holdings in shares of Lowe’s Companies by 387.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after purchasing an additional 645,017 shares during the period. Finally, State Street Corp grew its holdings in shares of Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after purchasing an additional 460,851 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

LOW stock opened at $242.82 on Thursday. The firm has a market capitalization of $137.11 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.96 and a beta of 1.11. The business’s 50-day moving average is $252.13 and its two-hundred day moving average is $259.12. 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 issued its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. On average, analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LOW shares. Evercore ISI increased their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a report on Thursday, December 12th. Wells Fargo & Company increased their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Piper Sandler lowered their price target on Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Barclays increased their price target on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $280.83.

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.