Vest Financial LLC Raises Holdings in Lowe’s Companies, Inc. $LOW

Vest Financial LLC increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 17.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 251,292 shares of the home improvement retailer’s stock after purchasing an additional 37,893 shares during the quarter. Vest Financial LLC’s holdings in Lowe’s Companies were worth $55,754,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. MGO One Seven LLC grew its position in Lowe’s Companies by 14.2% in the second quarter. MGO One Seven LLC now owns 16,382 shares of the home improvement retailer’s stock worth $3,635,000 after acquiring an additional 2,038 shares during the period. Welch Group LLC grew its position in Lowe’s Companies by 12.1% in the second quarter. Welch Group LLC now owns 1,210 shares of the home improvement retailer’s stock worth $269,000 after acquiring an additional 131 shares during the period. Bill Few Associates Inc. grew its position in Lowe’s Companies by 36.9% in the second quarter. Bill Few Associates Inc. now owns 1,294 shares of the home improvement retailer’s stock worth $287,000 after acquiring an additional 349 shares during the period. Hazlett Burt & Watson Inc. grew its position in Lowe’s Companies by 6.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,795 shares of the home improvement retailer’s stock worth $399,000 after acquiring an additional 101 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Lowe’s Companies by 11.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 111,244 shares of the home improvement retailer’s stock worth $25,435,000 after acquiring an additional 11,070 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 40,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total value of $10,564,000.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the firm’s 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 completion of the sale, the executive vice president owned 66,566 shares in the company, valued at approximately $18,145,891.60. This represents 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 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Trading Down 1.0%

Shares of NYSE LOW opened at $232.28 on Monday. The stock has a market cap of $130.27 billion, a P/E ratio of 19.09, a PEG ratio of 2.15 and a beta of 0.88. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The business’s fifty day simple moving average is $254.92 and its 200-day simple moving average is $234.42.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.09. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The business had revenue of $23.96 billion for the quarter, compared to analysts’ expectations of $23.99 billion. During the same period last year, the firm earned $4.10 earnings per share. The company’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 analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) is currently 39.44%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LOW shares. Evercore ISI lowered their price objective on Lowe’s Companies from $275.00 to $250.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. Truist Financial increased 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. Citigroup decreased their price target on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating on the stock in a research note on Thursday, July 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Lowe’s Companies in a research report on Wednesday, October 8th. Finally, Gordon Haskett upgraded Lowe’s Companies to a “hold” rating in a research report on Wednesday, August 13th. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $283.13.

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.