HBK Sorce Advisory LLC Boosts Holdings in Lowe’s Companies, Inc. $LOW

HBK Sorce Advisory LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 13,950 shares of the home improvement retailer’s stock after buying an additional 317 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Lowe’s Companies were worth $3,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. SeaBridge Investment Advisors LLC grew its holdings in shares of 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 buying an additional 465 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Lowe’s Companies by 8.1% in the first 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 last quarter. Advent Capital Management DE boosted its position in shares of Lowe’s Companies by 20.0% in the first 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 last quarter. Strathmore Capital Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the second quarter worth approximately $2,717,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Lowe’s Companies in the first quarter worth approximately $303,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LOW has been the topic of several research analyst reports. DA Davidson raised their target price on shares of Lowe’s Companies from $240.00 to $266.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Oppenheimer raised their target price on shares of Lowe’s Companies from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. Robert W. Baird raised their target price on shares of Lowe’s Companies from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Barclays set a $267.00 target price on shares of Lowe’s Companies in a research report on Thursday, August 21st. Finally, Truist Financial raised their target price on shares of Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $282.59.

Insider Activity

In other news, CEO Marvin R. Ellison sold 40,000 shares of Lowe’s Companies 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 sale, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total transaction of $238,938.80. Following the sale, the executive vice president owned 30,099 shares in the company, valued at $7,741,462.80. This represents a 2.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 92,931 shares of company stock worth $24,945,752. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Down 2.4%

Shares of LOW stock opened at $238.30 on Thursday. The stock has a market cap of $133.65 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 2.26 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 $280.64. The firm’s 50 day moving average price is $253.88 and its two-hundred day moving average price is $236.15.

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

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.44%.

About Lowe’s Companies

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.