Alta Capital Management LLC Has $15.89 Million Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Alta Capital Management LLC increased its holdings in Lowe's Companies by 11.9%, resulting in a total valuation of $15.89 million for 71,608 shares.
• Wall Street analysts have different ratings on Lowe's stock, with a consensus of "Moderate Buy" and an average price target of $282.91.
• Insider trading activity includes CEO Marvin R. Ellison selling 40,000 shares for over $10 million, reducing his ownership by 13.84%.

Alta Capital Management LLC grew its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 11.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,608 shares of the home improvement retailer's stock after purchasing an additional 7,600 shares during the period. Alta Capital Management LLC's holdings in Lowe's Companies were worth $15,888,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vertex Planning Partners LLC lifted its position in shares of Lowe's Companies by 2.9% during the first quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer's stock valued at $369,000 after purchasing an additional 44 shares in the last quarter. Quadcap Wealth Management LLC lifted its position in shares of Lowe's Companies by 0.5% during the first quarter. Quadcap Wealth Management LLC now owns 9,386 shares of the home improvement retailer's stock valued at $2,189,000 after purchasing an additional 46 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Lowe's Companies by 0.8% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock valued at $1,357,000 after purchasing an additional 47 shares in the last quarter. Appleton Partners Inc. MA lifted its position in shares of Lowe's Companies by 1.5% during the second quarter. Appleton Partners Inc. MA now owns 3,214 shares of the home improvement retailer's stock valued at $713,000 after purchasing an additional 47 shares in the last quarter. Finally, Fielder Capital Group LLC lifted its position in shares of Lowe's Companies by 5.9% during the first quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock valued at $202,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on LOW shares. Evercore ISI lowered their price objective on shares of Lowe's Companies from $250.00 to $245.00 and set an "in-line" rating on the stock in a research report on Tuesday. Truist Financial lifted their price objective on shares of Lowe's Companies from $264.00 to $283.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Wells Fargo & Company lifted their price objective on shares of Lowe's Companies from $260.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Finally, Mizuho lifted their price objective 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. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $282.91.

Insider Buying and Selling at Lowe's Companies

In other news, CEO Marvin R. Ellison sold 40,000 shares of Lowe's Companies stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the completion of the transaction, the chief executive officer owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Juliette Williams Pryor sold 929 shares of the business's stock in a transaction that occurred on 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 directly owned 30,099 shares of the company's stock, valued at approximately $7,741,462.80. This represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock worth $24,945,752 over the last three months. Company insiders own 0.27% of the company's stock.

Lowe's Companies Stock Up 0.4%

LOW opened at $241.76 on Thursday. The company has a market capitalization of $135.59 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.23 and a beta of 0.88. The firm has a 50-day moving average price of $255.05 and a 200-day moving average price of $234.55. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $285.24.

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 the consensus estimate of $4.24 by $0.09. The firm had revenue of $23.96 billion during 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 company's revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Dividend Announcement

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 paid a $1.20 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. Lowe's Companies's dividend payout ratio (DPR) 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.

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