Matrix Asset Advisors Inc. NY Acquires 21,206 Shares of Lowe’s Companies, Inc. $LOW

Matrix Asset Advisors Inc. NY boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 54.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,276 shares of the home improvement retailer’s stock after purchasing an additional 21,206 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Lowe’s Companies were worth $13,373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in Lowe’s Companies during the first quarter worth $32,000. Olistico Wealth LLC bought a new stake in Lowe’s Companies during the second quarter worth $33,000. Inlight Wealth Management LLC bought a new stake in Lowe’s Companies during the first quarter worth $36,000. TruNorth Capital Management LLC bought a new stake in Lowe’s Companies during the first quarter worth $38,000. Finally, JNBA Financial Advisors lifted its stake in Lowe’s Companies by 147.1% during the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Trading Down 1.0%

Shares of Lowe’s Companies stock opened at $232.28 on Friday. The business has a 50-day moving average price of $254.92 and a two-hundred day moving average price of $234.40. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The company 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 (NYSE:LOW) last issued its quarterly 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. 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 the consensus estimate of $23.99 billion. During the same period last year, the business posted $4.10 EPS. 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. Equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

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 issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Lowe’s Companies from $243.00 to $260.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 21st. Piper Sandler increased their price target 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. Evercore ISI dropped their price target on Lowe’s Companies from $275.00 to $250.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. Citigroup dropped their price target on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating for the company in a research note on Thursday, July 31st. Finally, Barclays set a $267.00 price target on Lowe’s Companies in a research note on Thursday, August 21st. Sixteen investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $283.13.

Insiders Place Their Bets

In other news, EVP Juliette Williams Pryor sold 929 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the completion of the sale, the executive vice president directly owned 30,099 shares in the company, valued at $7,741,462.80. This trade represents a 2.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brandon J. Sink sold 8,192 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the sale, the executive vice president owned 21,603 shares of the company’s stock, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is currently owned by 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.