Convergence Investment Partners LLC Sells 56 Shares of Lowe’s Companies, Inc. $LOW

Convergence Investment Partners LLC reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 4.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,308 shares of the home improvement retailer’s stock after selling 56 shares during the quarter. Convergence Investment Partners LLC’s holdings in Lowe’s Companies were worth $290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brookwood Investment Group LLC boosted its holdings in Lowe’s Companies by 63.3% in the 2nd quarter. Brookwood Investment Group LLC now owns 1,760 shares of the home improvement retailer’s stock valued at $390,000 after purchasing an additional 682 shares during the period. First Command Advisory Services Inc. raised its position in shares of Lowe’s Companies by 27.4% in the second quarter. First Command Advisory Services Inc. now owns 3,443 shares of the home improvement retailer’s stock worth $764,000 after buying an additional 740 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in Lowe’s Companies by 10.4% during the second quarter. Ashton Thomas Private Wealth LLC now owns 8,988 shares of the home improvement retailer’s stock valued at $1,994,000 after buying an additional 845 shares during the period. Solstein Capital LLC boosted its stake in Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 113 shares during the period. Finally, Chilton Capital Management LLC grew its position in Lowe’s Companies by 41.2% during the second quarter. Chilton Capital Management LLC now owns 224,373 shares of the home improvement retailer’s stock worth $49,782,000 after buying an additional 65,457 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling

In other news, CEO Marvin R. Ellison sold 40,000 shares of the firm’s stock in a transaction that occurred 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 owned 249,043 shares in the company, valued at approximately $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brandon J. Sink sold 8,192 shares of Lowe’s Companies stock in a transaction on Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the transaction, the executive vice president directly owned 21,603 shares in the company, valued at approximately $5,802,133.74. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock valued at $24,945,752 in the last 90 days. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

LOW has been the topic of several recent analyst reports. Wells Fargo & Company raised their price target on Lowe’s Companies from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Sanford C. Bernstein raised their target price on shares of Lowe’s Companies from $266.00 to $279.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Barclays set a $267.00 price target on shares of Lowe’s Companies in a report on Thursday, August 21st. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $282.59.

Lowe’s Companies Stock Performance

LOW stock opened at $243.81 on Tuesday. The company has a market capitalization of $136.73 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 2.25 and a beta of 0.88. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year high of $280.64. The company’s 50 day moving average price is $254.50 and its two-hundred day moving average price is $235.86.

Lowe’s Companies (NYSE:LOW) last released its 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 company had revenue of $23.96 billion for 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 firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be issued 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 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.