SouthState Corp Sells 3,919 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

SouthState Corp cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 15.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,435 shares of the home improvement retailer’s stock after selling 3,919 shares during the period. SouthState Corp’s holdings in Lowe’s Companies were worth $5,290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. IFS Advisors LLC acquired a new position in shares of Lowe’s Companies during the 4th quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Lowe’s Companies in the 3rd quarter valued at about $27,000. Winch Advisory Services LLC grew its position 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 buying an additional 44 shares during the last quarter. Marshall Investment Management LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $31,000. Finally, Financial Life Planners bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $45,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 0.9 %

LOW opened at $224.64 on Monday. The company has a market cap of $126.84 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.96 and a beta of 1.12. The business’s 50-day moving average price is $250.18 and its 200-day moving average price is $258.63. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LOW shares. Bank of America cut their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus increased their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. DA Davidson increased their price objective on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Finally, Piper Sandler cut 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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.