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

Patten & Patten Inc. TN trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. IFS Advisors LLC purchased a new position in Lowe’s Companies in the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Lowe’s Companies during the third quarter valued at approximately $27,000. Winch Advisory Services LLC lifted its holdings in shares of Lowe’s Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Marshall Investment Management LLC bought a new position in shares of Lowe’s Companies during the fourth quarter worth $31,000. Finally, Financial Life Planners purchased a new position in Lowe’s Companies during the fourth quarter valued at $45,000. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LOW. Barclays boosted their price target on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Guggenheim reissued a “buy” rating and set a $300.00 price target 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 stock a “hold” rating in a research note on Wednesday, December 11th. Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Stock Up 0.9 %

LOW opened at $224.64 on Friday. The business has a fifty day moving average of $250.18 and a 200 day moving average of $258.56. The stock has a market cap of $126.84 billion, a P/E ratio of 18.74, a PEG ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01.

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

Lowe’s Companies Company 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.