Bridges Investment Management Inc. Sells 2,929 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Bridges Investment Management Inc. cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 372,513 shares of the home improvement retailer’s stock after selling 2,929 shares during the period. Lowe’s Companies comprises approximately 1.3% of Bridges Investment Management Inc.’s portfolio, making the stock its 23rd biggest holding. Bridges Investment Management Inc.’s holdings in Lowe’s Companies were worth $91,936,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Klingenstein Fields & Co. LP grew its position in Lowe’s Companies by 1.0% during the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock valued at $1,012,000 after buying an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its position in Lowe’s Companies by 0.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after buying an additional 40 shares during the period. Powers Advisory Group LLC grew its position in Lowe’s Companies by 2.7% during the fourth quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock valued at $380,000 after buying an additional 40 shares during the period. Saxony Capital Management LLC grew its position in Lowe’s Companies by 4.2% during the fourth quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock valued at $245,000 after buying an additional 40 shares during the period. Finally, Chicago Partners Investment Group LLC grew its position in Lowe’s Companies by 1.6% during the third quarter. Chicago Partners Investment Group LLC now owns 2,604 shares of the home improvement retailer’s stock valued at $703,000 after buying an additional 41 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $248.71 on Friday. The stock has a market capitalization of $140.43 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The company has a 50 day moving average price of $252.52 and a 200 day moving average price of $259.05. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. DA Davidson raised their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Guggenheim reaffirmed a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Evercore ISI increased their price objective 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. Piper Sandler decreased their price objective 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. Finally, Sanford C. Bernstein increased their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.