Wealthfront Advisers LLC Sells 18,272 Shares of Lowe’s Companies, Inc. $LOW

Wealthfront Advisers LLC trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 21.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,698 shares of the home improvement retailer’s stock after selling 18,272 shares during the quarter. Wealthfront Advisers LLC’s holdings in Lowe’s Companies were worth $14,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after purchasing an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Lowe’s Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after buying an additional 259 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Lowe’s Companies by 22.3% in the second quarter. Sivia Capital Partners LLC now owns 1,534 shares of the home improvement retailer’s stock worth $340,000 after buying an additional 280 shares in the last quarter. United Bank lifted its stake in shares of Lowe’s Companies by 1.3% in the second quarter. United Bank now owns 12,124 shares of the home improvement retailer’s stock worth $2,690,000 after buying an additional 155 shares in the last quarter. Finally, Schnieders Capital Management LLC. grew its holdings in shares of Lowe’s Companies by 13.1% during the second quarter. Schnieders Capital Management LLC. now owns 2,378 shares of the home improvement retailer’s stock valued at $528,000 after buying an additional 275 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies News Summary

Here are the key news stories impacting Lowe’s Companies this week:

• Positive Sentiment: Investors are looking for Lowe’s Pro customer growth, online sales momentum and expansion in home services to support results. The company’s Total Home strategy is also viewed as a longer-term value-creation opportunity. Is Lowe’s a Buy Ahead of Earnings
• Positive Sentiment: Wall Street expects revenue growth to accelerate materially from the prior-year period, while largely steady analyst estimates suggest relatively firm confidence in Lowe’s near-term operating outlook. Analysts maintain a consensus “Moderate Buy” rating. Expected Revenue Acceleration and Steady Forecasts
• Neutral Sentiment: The earnings release is expected to produce a sizable share-price move, with investors focused on comparable-store sales, gross margins, earnings guidance and management’s view of housing-related demand. Expected Earnings Moves for Home Depot and Lowe’s
• Neutral Sentiment: Lowe’s reports alongside other major retailers, including Target and recently Home Depot, giving investors a broader read on U.S. consumer spending and the home-improvement market. Target or Lowe’s Ahead of Earnings
• Negative Sentiment: Weak do-it-yourself demand, cautious consumers and limited housing activity could offset strength in Pro sales, digital channels and services. Higher costs may also pressure margins, making the earnings beat-and-guidance combination especially important. Lowe’s Earnings Preview
• Negative Sentiment: The shares remain well below their 52-week high and below their longer-term moving average, reflecting investor concern that Lowe’s may remain dependent on a delayed housing recovery. Comparisons with Home Depot, which is viewed as having steadier estimates, add competitive pressure. Lowe’s Q2 Earnings Preview

Insider Transactions at Lowe’s Companies

In related news, EVP Janice Dupre sold 14,150 shares of Lowe’s Companies stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $221.90, for a total value of $3,139,885.00. Following the completion of the sale, the executive vice president owned 39,785 shares of the company’s stock, valued at $8,828,291.50. The trade was a 26.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Juliette Williams Pryor sold 9,330 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $224.81, for a total value of $2,097,477.30. Following the sale, the executive vice president owned 16,142 shares of the company’s stock, valued at approximately $3,628,883.02. This trade represents a 36.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,980 shares of company stock worth $5,796,937 in the last ninety days. Insiders own 0.29% of the company’s stock.

Lowe’s Companies Stock Up 0.1%

Shares of Lowe’s Companies stock opened at $215.94 on Wednesday. Lowe’s Companies, Inc. has a twelve month low of $199.40 and a twelve month high of $293.06. The company’s 50 day moving average is $216.12 and its 200 day moving average is $233.78. The company has a market cap of $121.08 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.79 and a beta of 0.86.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 20th. The home improvement retailer reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.06. The business had revenue of $23.08 billion during the quarter, compared to the consensus estimate of $22.98 billion. Lowe’s Companies had a net margin of 7.51% and a negative return on equity of 67.96%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.92 EPS. Sell-side analysts expect that Lowe’s Companies, Inc. will post 12.43 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd were paid a $1.25 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.20. The ex-dividend date was Wednesday, July 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.3%. Lowe’s Companies’s dividend payout ratio (DPR) is 42.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Craig Hallum upgraded shares of Lowe’s Companies to a “buy” rating in a report on Tuesday, May 12th. Sanford C. Bernstein reduced their target price on Lowe’s Companies from $303.00 to $281.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. BNP Paribas Exane decreased their price target on Lowe’s Companies from $228.00 to $202.00 and set an “underperform” rating for the company in a research note on Thursday, May 21st. Truist Financial lowered their price target on Lowe’s Companies from $280.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Finally, Stifel Nicolaus dropped their price objective on Lowe’s Companies from $270.00 to $220.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Twenty-three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $262.63.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.