Meridian Wealth Management LLC Sells 819 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Meridian Wealth Management LLC lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.7% during the fourth quarter, Holdings Channel reports. The fund 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 and other institutional investors have also recently added to or reduced their stakes in LOW. IFS Advisors LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in Lowe’s Companies in the 3rd quarter worth approximately $27,000. Winch Advisory Services LLC lifted its holdings in Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Marshall Investment Management LLC bought a new position in Lowe’s Companies in the 4th quarter valued at $31,000. Finally, JNBA Financial Advisors increased its stake in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 1.2 %

Shares of NYSE:LOW opened at $245.64 on Tuesday. The firm has a market cap of $138.70 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.96 and a beta of 1.11. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01. The company’s fifty day simple moving average is $252.49 and its 200 day simple moving average is $259.24.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. The firm had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LOW has been the topic of several research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Bank of America reduced their target price on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus boosted their price target on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Finally, Guggenheim reaffirmed a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price 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.