Sagespring Wealth Partners LLC Raises Position in Lowe’s Companies, Inc. $LOW

Sagespring Wealth Partners LLC increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,850 shares of the home improvement retailer’s stock after purchasing an additional 437 shares during the period. Sagespring Wealth Partners LLC’s holdings in Lowe’s Companies were worth $1,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in LOW. Nuveen LLC purchased a new position in shares of Lowe’s Companies during the first quarter valued at approximately $681,215,000. Pacer Advisors Inc. raised its holdings in shares of Lowe’s Companies by 2,984.6% during the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock valued at $475,339,000 after purchasing an additional 1,971,996 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Lowe’s Companies by 49.0% during the first quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer’s stock valued at $438,751,000 after purchasing an additional 618,775 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Lowe’s Companies by 10.6% during the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer’s stock valued at $1,214,448,000 after purchasing an additional 501,154 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Lowe’s Companies by 6.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer’s stock valued at $1,192,213,000 after purchasing an additional 330,701 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

LOW opened at $240.86 on Wednesday. The firm has a market cap of $135.08 billion, a P/E ratio of 19.79, a PEG ratio of 2.17 and a beta of 0.88. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The company has a 50 day simple moving average of $254.98 and a two-hundred day simple moving average of $234.50.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.09. The business had revenue of $23.96 billion during 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 company’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

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

Insider Activity

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the completion of the transaction, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brandon J. Sink sold 8,192 shares of the company’s 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 transaction, the executive vice president owned 21,603 shares of the company’s stock, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,931 shares of company stock valued at $24,945,752. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LOW. Truist Financial boosted their price objective on shares of Lowe’s Companies from $264.00 to $283.00 and gave the company a “buy” rating in a report on Thursday, August 21st. DA Davidson upped their target price on shares of Lowe’s Companies from $240.00 to $266.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Robert W. Baird upped their target price on shares of Lowe’s Companies from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Wall Street Zen raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, UBS Group upped their target price on shares of Lowe’s Companies from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.91.

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.