Axxcess Wealth Management LLC Has $3.69 Million Holdings in Lowe’s Companies, Inc. $LOW

Axxcess Wealth Management LLC grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 42.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,635 shares of the home improvement retailer’s stock after buying an additional 4,998 shares during the period. Axxcess Wealth Management LLC’s holdings in Lowe’s Companies were worth $3,691,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Community Bank N.A. lifted its position in shares of Lowe’s Companies by 1.1% in the second quarter. Community Bank N.A. now owns 19,861 shares of the home improvement retailer’s stock worth $4,407,000 after buying an additional 218 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its position in shares of Lowe’s Companies by 7.0% during the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 6,272 shares of the home improvement retailer’s stock worth $1,415,000 after purchasing an additional 413 shares during the last quarter. Concord Asset Management LLC VA acquired a new position in shares of Lowe’s Companies during the 2nd quarter worth about $741,000. Sequoia Financial Advisors LLC lifted its position in shares of Lowe’s Companies by 6.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 42,973 shares of the home improvement retailer’s stock worth $9,534,000 after purchasing an additional 2,712 shares during the last quarter. Finally, Vest Financial LLC lifted its position in shares of Lowe’s Companies by 17.8% during the 2nd quarter. Vest Financial LLC now owns 251,292 shares of the home improvement retailer’s stock worth $55,754,000 after purchasing an additional 37,893 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Truist Financial boosted their price objective on Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. KeyCorp boosted their price objective on Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Barclays set a $267.00 price objective on Lowe’s Companies in a research report on Thursday, August 21st. Evercore ISI cut their price objective on Lowe’s Companies from $250.00 to $245.00 and set an “in-line” rating for the company in a research report on Tuesday. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research report on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $282.91.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 929 shares of Lowe’s Companies stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total transaction of $238,938.80. Following the completion of the transaction, the executive vice president directly owned 30,099 shares of the company’s stock, valued at approximately $7,741,462.80. This trade represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marvin R. Ellison sold 40,000 shares of Lowe’s Companies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the transaction, the chief executive officer directly owned 249,043 shares of the company’s stock, valued at approximately $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. Over the last ninety 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 Stock Up 2.7%

Lowe’s Companies stock opened at $240.86 on Wednesday. The business has a 50 day moving average price of $254.98 and a two-hundred day moving average price of $234.50. The stock has a market cap of $135.08 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 2.17 and a beta of 0.88. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly 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. The firm had revenue of $23.96 billion during the quarter, compared to analysts’ expectations of $23.99 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a yield of 2.0%. Lowe’s Companies’s payout ratio is currently 39.44%.

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.