Amalgamated Bank Reduces Stake in Lowe’s Companies, Inc. $LOW

Amalgamated Bank lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 109,358 shares of the home improvement retailer’s stock after selling 2,604 shares during the quarter. Amalgamated Bank’s holdings in Lowe’s Companies were worth $24,263,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC grew its stake in shares of Lowe’s Companies by 3.7% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock valued at $2,859,000 after purchasing an additional 465 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Lowe’s Companies by 8.1% in the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock valued at $3,860,000 after purchasing an additional 1,242 shares during the last quarter. Advent Capital Management DE grew its stake in shares of Lowe’s Companies by 20.0% in the 1st quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock valued at $4,198,000 after purchasing an additional 3,000 shares during the last quarter. Strathmore Capital Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the 2nd quarter valued at approximately $2,717,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Lowe’s Companies in the 1st quarter valued at approximately $303,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on LOW shares. UBS Group raised their price target on Lowe’s Companies from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Stifel Nicolaus raised their price target on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a report on Monday, August 18th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a report on Thursday, August 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Lowe’s Companies in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Sixteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $282.59.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $238.30 on Thursday. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $280.64. The stock has a market capitalization of $133.64 billion, a P/E ratio of 19.58, a P/E/G ratio of 2.26 and a beta of 0.88. The firm’s 50-day moving average is $253.88 and its two-hundred day moving average is $236.15.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.09. The company had revenue of $23.96 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the transaction, the executive vice president directly owned 66,566 shares in the company, valued at approximately $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $268.58, for a total value of $2,200,207.36. Following the transaction, the executive vice president owned 21,603 shares in the company, valued at $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is owned by corporate insiders.

Lowe’s Companies 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.