DAVENPORT & Co LLC Acquires 72,923 Shares of Lowe’s Companies, Inc. $LOW

DAVENPORT & Co LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 16.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 529,916 shares of the home improvement retailer’s stock after acquiring an additional 72,923 shares during the quarter. DAVENPORT & Co LLC’s holdings in Lowe’s Companies were worth $117,726,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LOW. SeaBridge Investment Advisors LLC raised its position in Lowe’s Companies by 3.7% during the second quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after acquiring an additional 465 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Lowe’s Companies by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer’s stock worth $29,223,000 after purchasing an additional 1,470 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Lowe’s Companies by 8.1% in the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock valued at $3,860,000 after purchasing an additional 1,242 shares during the period. Advent Capital Management DE raised its holdings in shares of Lowe’s Companies by 20.0% in the 1st quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock valued at $4,198,000 after purchasing an additional 3,000 shares during the period. Finally, Cornerstone Wealth Group LLC lifted its stake in Lowe’s Companies by 12.6% in the 1st quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer’s stock valued at $6,848,000 after purchasing an additional 3,295 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

LOW opened at $246.24 on Monday. The stock has a fifty day moving average of $253.95 and a 200-day moving average of $234.20. The company has a market capitalization of $138.10 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.28 and a beta of 0.88. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.09. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same period last year, the firm earned $4.10 earnings per share. Lowe’s Companies’s revenue for the quarter was up 1.6% compared to the same quarter last year. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. Lowe’s Companies’s dividend payout ratio is currently 39.44%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Truist Financial upped their price objective on Lowe’s Companies from $264.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. boosted their target price on Lowe’s Companies from $280.00 to $283.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Lowe’s Companies in a research note on Saturday, September 27th. Stifel Nicolaus raised their price target on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a report on Monday, August 18th. Finally, Piper Sandler upped their price objective on shares of Lowe’s Companies from $269.00 to $294.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Seventeen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $285.50.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Brandon J. Sink sold 8,192 shares of Lowe’s Companies stock in a transaction on Friday, September 5th. The stock was sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the transaction, the executive vice president directly owned 21,603 shares of the company’s stock, valued at $5,802,133.74. The trade was a 27.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the sale, the executive vice president directly owned 30,099 shares in the company, valued at approximately $7,741,462.80. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock worth $24,945,752 in the last quarter. Insiders own 0.27% of the company’s stock.

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.