Patten & Patten Inc. TN Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Patten & Patten Inc. TN reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,729 shares of the home improvement retailer’s stock after selling 146 shares during the period. Patten & Patten Inc. TN’s holdings in Lowe’s Companies were worth $5,856,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LOW. StoneX Group Inc. purchased a new stake in Lowe’s Companies in the third quarter worth about $2,713,000. Principal Financial Group Inc. lifted its holdings in Lowe’s Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after buying an additional 24,812 shares during the period. Miracle Mile Advisors LLC lifted its holdings in Lowe’s Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after buying an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Lowe’s Companies by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after buying an additional 4,435 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in Lowe’s Companies by 2.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock worth $4,894,000 after buying an additional 501 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada lowered their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus raised their target price on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Bank of America decreased their target price 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. Evercore ISI raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research note on Thursday, December 12th. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $280.83.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $224.64 on Friday. The company’s fifty day simple moving average is $250.18 and its 200-day simple moving average is $258.56. The stock has a market capitalization of $126.84 billion, a PE ratio of 18.74, a P/E/G ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly 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. The business had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

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.