Riverbend Wealth Management LLC Invests $386,000 in Lowe's Companies, Inc. (NYSE:LOW)

Riverbend Wealth Management LLC purchased a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,562 shares of the home improvement retailer's stock, valued at approximately $386,000.

A number of other large investors also recently modified their holdings of the company. IFS Advisors LLC purchased a new position in Lowe's Companies in the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in Lowe's Companies in the 3rd quarter worth approximately $27,000. Winch Advisory Services LLC increased its stake 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 worth $30,000 after purchasing an additional 44 shares during the period. Marshall Investment Management LLC purchased a new position in Lowe's Companies in the 4th quarter worth approximately $31,000. Finally, Financial Life Planners bought a new stake in shares of Lowe's Companies in the 4th quarter worth approximately $45,000. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Stock Down 1.2 %

NYSE:LOW traded down $2.77 during midday trading on Wednesday, hitting $229.90. The stock had a trading volume of 1,473,813 shares, compared to its average volume of 2,282,352. Lowe's Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The company has a market capitalization of $129.81 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.96 and a beta of 1.12. The stock has a 50-day moving average of $251.52 and a 200 day moving average of $259.14.

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Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating 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 negative return on equity of 47.55% and a net margin of 8.19%. On average, sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LOW has been the topic of several research reports. Telsey Advisory Group restated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating and set a $300.00 price objective on shares of Lowe's Companies in a research note on Thursday, December 12th. Stifel Nicolaus lifted their price objective 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. Bank of America lowered their price objective on 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. Finally, Truist Financial lowered their price objective on Lowe's Companies from $308.00 to $295.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One equities research 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 MarketBeat, 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.