Banque Pictet & Cie SA Sells 5,935 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Banque Pictet & Cie SA has reduced its stake in Lowe's Companies by 12.1%, now holding 43,167 shares worth approximately $9.58 million after selling 5,935 shares.
• Lowe's recently reported earnings with a $4.33 EPS, slightly exceeding analysts' expectations, despite revenue falling short at $23.96 billion.
• The company declared a quarterly dividend of $0.012 per share, indicating a 0.0% dividend yield, and shows a recent trend of increasing stock valuations among several institutional investors.

Banque Pictet & Cie SA decreased its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 12.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,167 shares of the home improvement retailer's stock after selling 5,935 shares during the period. Banque Pictet & Cie SA's holdings in Lowe's Companies were worth $9,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LOW. Brighton Jones LLC increased its stake in shares of Lowe's Companies by 119.7% during the fourth 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 increased its stake in shares of Lowe's Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after purchasing an additional 259 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of Lowe's Companies during the fourth quarter valued at approximately $45,000. Wood Tarver Financial Group LLC bought a new stake in shares of Lowe's Companies during the fourth quarter valued at approximately $25,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Lowe's Companies during the fourth quarter valued at approximately $67,000. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Down 0.6%

NYSE:LOW opened at $255.71 on Friday. The company has a 50 day simple moving average of $250.85 and a two-hundred day simple moving average of $233.07. The company has a market cap of $143.41 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 2.38 and a beta of 0.87. 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 issued its quarterly 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 business had revenue of $23.96 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $4.10 EPS. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Research analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be paid a dividend of $0.012 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio (DPR) is currently 39.44%.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Brandon J. Sink sold 8,192 shares of Lowe's Companies stock in a transaction on Friday, September 5th. The shares were 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 in the company, valued at $5,802,133.74. This trade represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of Lowe's Companies stock in a transaction on Tuesday, August 26th. The stock was 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. This represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,931 shares of company stock worth $24,945,752. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Lowe's Companies from $243.00 to $260.00 and gave the company a "sector perform" rating in a research report on Thursday, August 21st. Mizuho raised their price target on shares of Lowe's Companies from $280.00 to $285.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Citigroup reduced their price target on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Robert W. Baird raised their price target on shares of Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Finally, Truist Financial raised their price target on shares of Lowe's Companies from $264.00 to $283.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Sixteen research 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $285.50.

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.

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