1ST Source Bank Trims Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

1ST Source Bank lowered its position in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,724 shares of the home improvement retailer’s stock after selling 949 shares during the period. 1ST Source Bank’s holdings in Lowe’s Companies were worth $2,229,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Sanctuary Wealth Management L.L.C. bought a new stake in Lowe’s Companies in the 4th quarter worth approximately $35,000. True Wealth Design LLC bought a new stake in Lowe’s Companies in the fourth quarter worth $42,000. RVW Wealth LLC purchased a new stake in Lowe’s Companies during the third quarter valued at $45,000. OFI Invest Asset Management purchased a new position in shares of Lowe’s Companies in the 3rd quarter worth $50,000. Finally, Intrepid Capital Management Inc. bought a new position in shares of Lowe’s Companies in the 2nd quarter valued at about $63,000. Hedge funds and other institutional investors own 71.88% of the company’s stock.

Lowe’s Companies Trading Up 3.7 %

Shares of Lowe’s Companies stock traded up $8.18 during trading hours on Monday, reaching $230.44. The stock had a trading volume of 1,791,486 shares, compared to its average volume of 2,557,921. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $237.21. The firm has a market capitalization of $132.53 billion, a PE ratio of 17.14, a PEG ratio of 1.59 and a beta of 1.12. The stock’s 50 day moving average is $217.33 and its 200 day moving average is $212.77.

Lowe’s Companies (NYSE:LOWGet Free Report) last posted its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $3.03 by $0.03. Lowe’s Companies had a negative return on equity of 54.56% and a net margin of 8.49%. The firm had revenue of $20.74 billion during the quarter, compared to the consensus estimate of $20.87 billion. During the same period in the prior year, the company earned $3.27 EPS. The firm’s revenue was down 11.7% compared to the same quarter last year. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 13.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank of Canada decreased their price target on Lowe’s Companies from $194.00 to $190.00 and set a “sector perform” rating on the stock in a report on Monday, November 27th. TheStreet downgraded shares of Lowe’s Companies from a “b-” rating to a “c+” rating in a research report on Tuesday, November 21st. Morgan Stanley dropped their price objective on shares of Lowe’s Companies from $255.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 22nd. Wedbush reduced their price target on Lowe’s Companies from $230.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, November 22nd. Finally, Stifel Nicolaus cut Lowe’s Companies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $235.00 to $240.00 in a research note on Wednesday, December 20th. Twelve research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.33.

Get Our Latest Analysis on LOW

About Lowe’s Companies

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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