Bingham Private Wealth LLC Cuts Stock Holdings in Lowe’s Companies, Inc. $LOW

Bingham Private Wealth LLC decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 9.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,547 shares of the home improvement retailer’s stock after selling 153 shares during the quarter. Bingham Private Wealth LLC’s holdings in Lowe’s Companies were worth $343,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LOW. Comprehensive Financial Consultants Institutional Inc. boosted its holdings in Lowe’s Companies by 8.1% during the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,037 shares of the home improvement retailer’s stock worth $1,561,000 after purchasing an additional 529 shares during the last quarter. Relyea Zuckerberg Hanson LLC lifted its position in shares of Lowe’s Companies by 38.6% during the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 3,358 shares of the home improvement retailer’s stock worth $745,000 after buying an additional 936 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Lowe’s Companies by 58.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 13,135 shares of the home improvement retailer’s stock worth $2,914,000 after buying an additional 4,822 shares during the last quarter. Confluence Wealth Services Inc. boosted its stake in shares of Lowe’s Companies by 3.1% in the 2nd quarter. Confluence Wealth Services Inc. now owns 7,692 shares of the home improvement retailer’s stock worth $1,707,000 after buying an additional 232 shares during the last quarter. Finally, Appleton Partners Inc. MA grew its holdings in shares of Lowe’s Companies by 1.5% in the second quarter. Appleton Partners Inc. MA now owns 3,214 shares of the home improvement retailer’s stock valued at $713,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW opened at $241.67 on Tuesday. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The business has a 50-day moving average of $254.18 and a 200 day moving average of $234.30. The firm has a market cap of $135.54 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 2.28 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.09. The firm had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business earned $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on LOW. Piper Sandler lifted their price target on Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lowe’s Companies in a research note on Saturday, September 27th. Wells Fargo & Company boosted their price target on shares of Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Mizuho raised their price objective on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Thursday, August 21st. Seventeen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.50.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 43,810 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 66,566 shares of the company’s stock, valued at $18,145,891.60. The trade was a 39.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the chief executive officer directly owned 249,043 shares of the company’s stock, valued at $65,772,256.30. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,931 shares of company stock valued at $24,945,752 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

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.