Belmont Capital LLC Makes New Investment in Lowe's Companies, Inc. $LOW

Key Points

• Belmont Capital LLC acquired 1,037 shares of Lowe's Companies, valued at approximately $242,000, as reported in their Form 13F filing with the SEC.
• Multiple institutional investors have recently increased their holdings in Lowe’s, with Vanguard Group now owning over $12.7 billion worth of shares.
• Wall Street analysts have set target prices for Lowe’s Companies, with the consensus target price at $284.13, indicating a generally positive outlook on the stock.

Belmont Capital LLC bought a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,037 shares of the home improvement retailer's stock, valued at approximately $242,000.

Other large investors have also made changes to their positions in the company. Wood Tarver Financial Group LLC purchased a new stake in shares of Lowe's Companies in the 4th quarter worth $25,000. Fairway Wealth LLC bought a new stake in Lowe's Companies during the first quarter valued at about $32,000. Orion Capital Management LLC purchased a new stake in Lowe's Companies in the fourth quarter worth about $36,000. Inlight Wealth Management LLC bought a new position in shares of Lowe's Companies in the first quarter worth about $36,000. Finally, IFS Advisors LLC raised its stake in shares of Lowe's Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after buying an additional 60 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Lowe's Companies news, CEO Marvin R. Ellison sold 40,000 shares of Lowe's Companies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the transaction, the chief executive officer directly owned 249,043 shares of the company's stock, valued at $65,772,256.30. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Mizuho upped their price target on shares of Lowe's Companies from $280.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Telsey Advisory Group restated an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a research report on Thursday, August 21st. JPMorgan Chase & Co. upped their target price on shares of Lowe's Companies from $280.00 to $283.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Finally, KeyCorp increased their price target on Lowe's Companies from $266.00 to $300.00 and gave the stock an "overweight" rating in a research note 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $284.13.

Lowe's Companies Trading Up 2.1%

LOW traded up $5.43 during trading hours on Friday, hitting $270.00. The company's stock had a trading volume of 4,488,216 shares, compared to its average volume of 2,892,729. The stock has a market cap of $151.42 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.45 and a beta of 0.87. The business's 50-day moving average price is $238.85 and its 200-day moving average price is $230.85. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its 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 firm had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $4.10 EPS. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Cuts Dividend

The business 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 $0.012 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.0%. Lowe's Companies's payout ratio is 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.