Arvest Bank Trust Division Cuts Stake in Lowe’s Companies, Inc. $LOW

Arvest Bank Trust Division decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 37.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,138 shares of the home improvement retailer’s stock after selling 30,935 shares during the period. Arvest Bank Trust Division’s holdings in Lowe’s Companies were worth $11,568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. W.H. Cornerstone Investments Inc. boosted its holdings in Lowe’s Companies by 8.7% in the 2nd quarter. W.H. Cornerstone Investments Inc. now owns 2,921 shares of the home improvement retailer’s stock valued at $648,000 after purchasing an additional 235 shares in the last quarter. WASHINGTON TRUST Co lifted its holdings in shares of Lowe’s Companies by 7.4% in the 2nd quarter. WASHINGTON TRUST Co now owns 2,038 shares of the home improvement retailer’s stock valued at $452,000 after buying an additional 140 shares during the period. D Orazio & Associates Inc. boosted its stake in shares of Lowe’s Companies by 1.2% in the second quarter. D Orazio & Associates Inc. now owns 4,783 shares of the home improvement retailer’s stock valued at $1,061,000 after buying an additional 55 shares in the last quarter. ABN Amro Investment Solutions acquired a new position in Lowe’s Companies during the second quarter worth $16,173,000. Finally, Cherokee Insurance Co purchased a new position in Lowe’s Companies in the second quarter worth $2,330,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 value of $238,938.80. Following the transaction, the executive vice president 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’s 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 completion of the sale, the executive vice president owned 66,566 shares of the company’s stock, valued at approximately $18,145,891.60. This trade represents a 39.69% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, 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 1.4%

NYSE:LOW opened at $231.44 on Friday. The company has a market cap of $129.80 billion, a PE ratio of 19.02, a P/E/G ratio of 2.21 and a beta of 0.87. The business’s 50 day moving average is $248.51 and its two-hundred day moving average is $237.25. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $280.64.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 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 company had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. During the same period in the prior year, the company earned $4.10 earnings per share. The business’s revenue 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. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on LOW. Citigroup decreased their target price on shares of 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. Evercore ISI cut their price target on Lowe’s Companies from $245.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday. Truist Financial cut their price target on Lowe’s Companies from $283.00 to $267.00 and set a “buy” rating for the company in a report on Friday, November 7th. Mizuho increased their target price on Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Finally, Guggenheim reissued a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a research note on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $280.50.

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.