Moors & Cabot Inc. Sells 2,357 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Moors & Cabot Inc. lessened its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,450 shares of the home improvement retailer's stock after selling 2,357 shares during the quarter. Moors & Cabot Inc.'s holdings in Lowe's Companies were worth $6,034,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Lowe's Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer's stock worth $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. State Street Corp raised its holdings in shares of Lowe's Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer's stock worth $6,774,948,000 after purchasing an additional 460,851 shares during the period. Geode Capital Management LLC raised its holdings in shares of Lowe's Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer's stock worth $3,169,041,000 after purchasing an additional 187,473 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Lowe's Companies by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer's stock worth $1,033,283,000 after purchasing an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Lowe's Companies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer's stock valued at $853,697,000 after acquiring an additional 90,012 shares during the period. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Down 4.1 %

Shares of NYSE:LOW opened at $232.48 on Wednesday. The stock's 50-day moving average price is $251.52 and its 200-day moving average price is $259.14. Lowe's Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The stock has a market capitalization of $131.27 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

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Lowe's Companies (NYSE:LOW - Get Free Report) 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%. As a group, research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LOW shares. Evercore ISI boosted 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 report on Thursday, December 12th. Stifel Nicolaus boosted their target price on shares of Lowe's Companies from $265.00 to $270.00 and gave the company a "hold" rating in a report on Wednesday, December 11th. Wedbush reissued a "neutral" rating and set a $250.00 target price on shares of Lowe's Companies in a report on Thursday, December 12th. Piper Sandler lowered their target price on shares of Lowe's Companies from $307.00 to $296.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Finally, Truist Financial lowered their target price on shares of Lowe's Companies from $308.00 to $295.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.

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