Concord Asset Management LLC VA Acquires Shares of 3,338 Lowe’s Companies, Inc. $LOW

Concord Asset Management LLC VA acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,338 shares of the home improvement retailer’s stock, valued at approximately $741,000.

Other hedge funds also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in Lowe’s Companies in the 1st quarter valued at about $32,000. Olistico Wealth LLC acquired a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $33,000. Inlight Wealth Management LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth approximately $36,000. TruNorth Capital Management LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth approximately $38,000. Finally, JNBA Financial Advisors increased its holdings in shares of Lowe’s Companies by 147.1% during the 1st quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 1.0%

Lowe’s Companies stock opened at $232.28 on Monday. The stock has a market cap of $130.27 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 2.15 and a beta of 0.88. The company has a fifty day simple moving average of $254.92 and a 200-day simple moving average of $234.42. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $23.99 billion. During the same period in the previous year, the company earned $4.10 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be paid a $1.20 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a yield of 2.1%. Lowe’s Companies’s payout ratio is currently 39.44%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LOW. JPMorgan Chase & Co. lifted their target price on shares of Lowe’s Companies from $280.00 to $283.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Mizuho lifted their target price on shares of Lowe’s Companies from $280.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, August 29th. DA Davidson upped their price objective on Lowe’s Companies from $240.00 to $266.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Truist Financial upped their price objective on Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Finally, UBS Group upped their price objective on Lowe’s Companies from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $283.13.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 43,810 shares of Lowe’s Companies stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value of $11,942,606.00. Following the transaction, the executive vice president directly owned 66,566 shares in the company, valued at approximately $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of Lowe’s Companies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the transaction, the chief executive officer owned 249,043 shares in the company, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,931 shares of company stock valued at $24,945,752. Company 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.