Lowe’s Companies, Inc. $LOW Shares Sold by Conning Inc.

Conning Inc. trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% in the second quarter, Holdings Channel reports. The fund owned 4,142 shares of the home improvement retailer’s stock after selling 131 shares during the period. Conning Inc.’s holdings in Lowe’s Companies were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH raised its stake in shares of Lowe’s Companies by 1.8% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 31,866 shares of the home improvement retailer’s stock worth $7,070,000 after buying an additional 571 shares in the last quarter. Bernard Wealth Management Corp. grew its holdings in Lowe’s Companies by 4.5% during the second quarter. Bernard Wealth Management Corp. now owns 4,472 shares of the home improvement retailer’s stock worth $992,000 after acquiring an additional 191 shares during the period. Aberdeen Group plc grew its holdings in Lowe’s Companies by 7.0% during the second quarter. Aberdeen Group plc now owns 647,781 shares of the home improvement retailer’s stock worth $142,635,000 after acquiring an additional 42,492 shares during the period. First Fiduciary Investment Counsel Inc. grew its holdings in Lowe’s Companies by 1.1% during the second quarter. First Fiduciary Investment Counsel Inc. now owns 95,093 shares of the home improvement retailer’s stock worth $21,098,000 after acquiring an additional 1,039 shares during the period. Finally, Strong Tower Advisory Services grew its holdings in Lowe’s Companies by 4.9% during the second quarter. Strong Tower Advisory Services now owns 14,012 shares of the home improvement retailer’s stock worth $3,109,000 after acquiring an additional 655 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

LOW stock opened at $232.28 on Friday. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01. The stock’s 50 day moving average price is $254.92 and its 200 day moving average price is $234.40. The firm 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 posted its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the prior year, the company earned $4.10 EPS. Lowe’s Companies’s revenue was up 1.6% on a year-over-year basis. 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 earnings per share for the current year.

Lowe’s Companies Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LOW shares. Citigroup dropped their price objective on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating on the stock in a report on Thursday, July 31st. Evercore ISI dropped their price objective on Lowe’s Companies from $275.00 to $250.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. Wells Fargo & Company upped their price target on Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a report on Thursday, August 21st. Finally, Truist Financial upped their price target on Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued 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.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Brandon J. Sink sold 8,192 shares of the business’s stock in a transaction on 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the business’s stock in a transaction on 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 transaction, the executive vice president owned 66,566 shares of the company’s stock, valued at $18,145,891.60. This trade represents a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock worth $24,945,752 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

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.