Meridian Wealth Management LLC Has $2.80 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Meridian Wealth Management LLC cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,331 shares of the home improvement retailer’s stock after selling 819 shares during the period. Meridian Wealth Management LLC’s holdings in Lowe’s Companies were worth $2,796,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. IFS Advisors LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in shares of Lowe’s Companies in the 3rd quarter valued at approximately $27,000. Winch Advisory Services LLC lifted its holdings in Lowe’s Companies by 56.4% in the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 44 shares during the last quarter. Marshall Investment Management LLC bought a new stake in Lowe’s Companies during the fourth quarter worth approximately $31,000. Finally, JNBA Financial Advisors grew its holdings in Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America reduced their price objective 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. DA Davidson boosted their target price 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. Guggenheim reaffirmed a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Evercore ISI boosted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. Finally, Truist Financial decreased their target price on 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $280.83.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $245.64 on Tuesday. The stock’s fifty day simple moving average is $252.49 and its 200 day simple moving average is $259.24. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The firm has a market cap of $138.70 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 1.96 and a beta of 1.11.

Lowe’s Companies (NYSE:LOW) last posted 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 net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current 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.