State of New Jersey Common Pension Fund D Sells 1,567 Shares of Lowe’s Companies, Inc. $LOW

State of New Jersey Common Pension Fund D decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 188,230 shares of the home improvement retailer’s stock after selling 1,567 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lowe’s Companies were worth $41,763,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SeaBridge Investment Advisors LLC grew its stake in shares of Lowe’s Companies by 3.7% during the 2nd 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 during the period. Larson Financial Group LLC grew its stake in shares of Lowe’s Companies by 8.1% during the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock worth $3,860,000 after acquiring an additional 1,242 shares during the period. Advent Capital Management DE grew its stake in shares of Lowe’s Companies by 20.0% during the 1st quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock worth $4,198,000 after acquiring an additional 3,000 shares during the period. Strathmore Capital Advisors Inc. bought a new position in Lowe’s Companies in the 2nd quarter worth about $2,717,000. Finally, Financial Gravity Asset Management Inc. bought a new position in Lowe’s Companies in the 1st quarter worth about $303,000. Institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 40,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the transaction, the executive vice president owned 66,566 shares in the company, valued at $18,145,891.60. The trade was a 39.69% 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 valued at $24,945,752 over the last ninety days. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Trading Down 0.3%

Shares of LOW opened at $243.06 on Friday. The company has a market cap of $136.31 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The stock has a 50-day moving average price of $254.64 and a 200-day moving average price of $235.46. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $280.64.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.09. The firm had revenue of $23.96 billion during the quarter, compared to the consensus estimate of $23.99 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently announced 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 of this dividend is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a yield of 2.0%. Lowe’s Companies’s dividend payout ratio is currently 39.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LOW shares. Citigroup lowered their price target on shares of Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating on the stock in a report on Thursday, July 31st. Wall Street Zen raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Piper Sandler upped their target price on shares of Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Wells Fargo & Company upped their target price on shares of Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Finally, Stifel Nicolaus upped their target price on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a report on Monday, August 18th. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $282.91.

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.