IFC Advisors LLC Reduces Holdings in Lowe’s Companies, Inc. $LOW

IFC Advisors LLC decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,750 shares of the home improvement retailer’s stock after selling 230 shares during the period. IFC Advisors LLC’s holdings in Lowe’s Companies were worth $1,276,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Harbour Trust & Investment Management Co boosted its position in shares of Lowe’s Companies by 4.7% during the 2nd quarter. Harbour Trust & Investment Management Co now owns 33,194 shares of the home improvement retailer’s stock worth $7,365,000 after purchasing an additional 1,505 shares during the period. Axxcess Wealth Management LLC boosted its position in Lowe’s Companies by 42.9% in the 2nd quarter. Axxcess Wealth Management LLC now owns 16,635 shares of the home improvement retailer’s stock valued at $3,691,000 after buying an additional 4,998 shares during the period. Community Bank N.A. boosted its position in Lowe’s Companies by 1.1% in the 2nd quarter. Community Bank N.A. now owns 19,861 shares of the home improvement retailer’s stock valued at $4,407,000 after buying an additional 218 shares during the period. Astoria Portfolio Advisors LLC. boosted its position in Lowe’s Companies by 7.0% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 6,272 shares of the home improvement retailer’s stock valued at $1,415,000 after buying an additional 413 shares during the period. Finally, Concord Asset Management LLC VA purchased a new position in Lowe’s Companies in the 2nd quarter valued at approximately $741,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value of $11,942,606.00. Following the completion of the sale, the executive vice president owned 66,566 shares in the company, valued at $18,145,891.60. This trade represents a 39.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Juliette Williams Pryor sold 929 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the transaction, the executive vice president owned 30,099 shares in the company, valued at $7,741,462.80. The trade was a 2.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,931 shares of company stock valued at $24,945,752. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LOW. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Thursday, August 21st. Wolfe Research started coverage on shares of Lowe’s Companies in a research report on Wednesday, September 17th. They set an “outperform” rating for the company. UBS Group lifted their price objective on shares of Lowe’s Companies from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Evercore ISI decreased their price objective on shares of Lowe’s Companies from $275.00 to $250.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. Finally, Sanford C. Bernstein lifted their price objective on shares of Lowe’s Companies from $266.00 to $279.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $283.13.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $234.11 on Tuesday. The company’s fifty day moving average price is $254.92 and its 200 day moving average price is $234.46. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The firm has a market capitalization of $131.30 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.15 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, topping the consensus estimate of $4.24 by $0.09. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The firm had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same period last year, the business earned $4.10 EPS. Lowe’s Companies’s revenue for the quarter 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. On average, sell-side analysts anticipate 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. Stockholders of record on Wednesday, October 22nd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio is presently 39.44%.

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.