Truist Financial Corp Has $116.67 Million Stock Holdings in Lowe’s Companies, Inc. $LOW

Truist Financial Corp cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 525,828 shares of the home improvement retailer’s stock after selling 5,466 shares during the period. Truist Financial Corp’s holdings in Lowe’s Companies were worth $116,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairway Wealth LLC bought a new stake in Lowe’s Companies in the 1st quarter valued at $32,000. Inlight Wealth Management LLC bought a new stake in shares of Lowe’s Companies in the first quarter valued at about $36,000. IFS Advisors LLC grew its stake in shares of Lowe’s Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 60 shares in the last quarter. TruNorth Capital Management LLC bought a new position in Lowe’s Companies during the first quarter worth about $38,000. Finally, JNBA Financial Advisors raised its stake in Lowe’s Companies by 147.1% in the 1st quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total value of $11,942,606.00. Following the sale, the executive vice president directly owned 66,566 shares in the company, valued at $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of Lowe’s Companies stock in a transaction on Wednesday, August 20th. The stock was 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 of the company’s stock, valued at $65,772,256.30. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,931 shares of company stock valued at $24,945,752. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Trading Down 1.3%

LOW opened at $248.12 on Thursday. The company has a market cap of $139.16 billion, a P/E ratio of 20.39, a PEG ratio of 2.33 and a beta of 0.88. The company’s 50 day moving average is $253.13 and its 200-day moving average is $233.78. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data 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. The business had revenue of $23.96 billion during the quarter, compared to the consensus estimate of $23.99 billion. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.10 EPS. 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 year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s payout ratio is 39.44%.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of analyst reports. Mizuho increased their target price on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Royal Bank Of Canada increased their target price on Lowe’s Companies from $243.00 to $260.00 and gave the stock a “sector perform” rating in a report on Thursday, August 21st. Wolfe Research initiated coverage on Lowe’s Companies in a research note on Wednesday, September 17th. They issued an “outperform” rating for the company. Truist Financial upped their price objective 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. Finally, Wells Fargo & Company increased their price objective on shares of Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.50.

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.