Meriwether Wealth & Planning LLC Acquires New Position in Lowe's Companies, Inc. (NYSE:LOW)

Meriwether Wealth & Planning LLC purchased a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 4,018 shares of the home improvement retailer's stock, valued at approximately $992,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. IFS Advisors LLC bought a new stake in Lowe's Companies in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new stake in Lowe's Companies in the 3rd quarter valued at about $27,000. Winch Advisory Services LLC lifted its position in 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 purchasing an additional 44 shares during the last quarter. Marshall Investment Management LLC bought a new stake in Lowe's Companies in the 4th quarter valued at about $31,000. Finally, Financial Life Planners bought a new stake in Lowe's Companies in the 4th quarter valued at about $45,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on LOW shares. Truist Financial cut their price objective on shares of Lowe's Companies from $308.00 to $295.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Barclays lifted their price objective on shares of Lowe's Companies from $229.00 to $245.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 20th. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research report on Wednesday, February 26th. StockNews.com downgraded shares of Lowe's Companies from a "buy" rating to a "hold" rating in a research report on Tuesday. Finally, BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $280.83.

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Lowe's Companies Stock Down 1.9 %

Shares of Lowe's Companies stock traded down $4.47 during trading on Wednesday, hitting $228.20. The stock had a trading volume of 2,825,340 shares, compared to its average volume of 2,288,255. The stock has a 50 day simple moving average of $251.15 and a 200 day simple moving average of $258.93. The company has a market capitalization of $128.86 billion, a PE ratio of 19.03, 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 - Get Free Report) last released its 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 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%. As a group, equities analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

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.