Allworth Financial LP Purchases 12,213 Shares of Lowe’s Companies, Inc. $LOW

Allworth Financial LP grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 76.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,270 shares of the home improvement retailer’s stock after acquiring an additional 12,213 shares during the quarter. Allworth Financial LP’s holdings in Lowe’s Companies were worth $6,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Solstein Capital LLC increased its position in Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 113 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of Lowe’s Companies in the 2nd quarter worth $33,000. Barnes Dennig Private Wealth Management LLC increased its holdings in shares of Lowe’s Companies by 101.0% in the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 193 shares of the home improvement retailer’s stock worth $43,000 after buying an additional 97 shares during the last quarter. Vista Cima Wealth Management LLC bought a new stake in shares of Lowe’s Companies in the 1st quarter worth about $44,000. Finally, Orion Capital Management LLC raised its position in shares of Lowe’s Companies by 34.2% during the 1st quarter. Orion Capital Management LLC now owns 196 shares of the home improvement retailer’s stock valued at $46,000 after buying an additional 50 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lowe’s Companies

In other news, 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 completion of the transaction, the executive vice president directly owned 30,099 shares of the company’s stock, valued at $7,741,462.80. The trade was a 2.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of Lowe’s Companies stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the completion of the transaction, the chief executive officer owned 249,043 shares of the company’s stock, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 92,931 shares of company stock valued at $24,945,752 in the last quarter. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on LOW shares. KeyCorp lifted their price target on Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Piper Sandler raised their price objective on Lowe’s Companies from $269.00 to $294.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Citigroup cut their target price on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating on the stock in a research report on Thursday, July 31st. Wolfe Research initiated coverage on Lowe’s Companies in a report on Wednesday, September 17th. They set an “outperform” rating on the stock. Finally, Sanford C. Bernstein raised their price target on Lowe’s Companies from $279.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday. Sixteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $280.50.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $235.53 on Wednesday. The stock has a market cap of $132.09 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. The firm has a 50-day moving average of $249.68 and a two-hundred day moving average of $237.31. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $280.64.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the previous year, the business earned $4.10 earnings per share. Lowe’s Companies’s quarterly revenue 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. Research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd were paid a dividend of $1.20 per share. The ex-dividend date was Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. Lowe’s Companies’s dividend payout ratio is presently 39.44%.

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.