Symphony Financial Services Inc. Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Symphony Financial Services Inc. trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 34.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,095 shares of the home improvement retailer’s stock after selling 580 shares during the period. Symphony Financial Services Inc.’s holdings in Lowe’s Companies were worth $270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in shares of Lowe’s Companies during the third quarter worth about $27,000. IFS Advisors LLC acquired a new stake in Lowe’s Companies during the fourth quarter valued at approximately $25,000. Marshall Investment Management LLC bought a new position in Lowe’s Companies during the 4th quarter worth approximately $31,000. JNBA Financial Advisors grew its position 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 worth $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Winch Advisory Services LLC increased its holdings in shares of 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 valued at $30,000 after acquiring an additional 44 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Down 2.6 %

NYSE:LOW opened at $239.71 on Wednesday. Lowe’s Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01. The firm has a market cap of $135.35 billion, a P/E ratio of 19.99, a PEG ratio of 1.96 and a beta of 1.11. The business’s 50-day moving average price is $252.28 and its 200 day moving average price is $259.23.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LOW. Piper Sandler reduced their price objective on Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Mizuho reduced their price target on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Evercore ISI boosted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Stifel Nicolaus lifted their target price on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Finally, Bank of America lowered their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Profile

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.