Bell Bank Buys 2,501 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Bell Bank raised its stake in Lowe's Companies, Inc. by 51.3% during the second quarter, bringing its total holdings to 7,373 shares valued at approximately $1,636,000.
• Lowe's reported $4.33 earnings per share for the latest quarter, exceeding the analyst estimate of $4.24, while revenue reached $23.96 billion.
• The company declared a quarterly dividend of $0.012, reflecting a significantly low annualized yield of 0.0% and a dividend payout ratio of 39.44%.

Bell Bank grew its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 51.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,373 shares of the home improvement retailer's stock after purchasing an additional 2,501 shares during the period. Bell Bank's holdings in Lowe's Companies were worth $1,636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Brighton Jones LLC raised its stake in Lowe's Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after buying an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC grew 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 purchasing an additional 259 shares during the period. State of Wyoming grew its holdings in Lowe's Companies by 677.1% in the fourth quarter. State of Wyoming now owns 1,088 shares of the home improvement retailer's stock worth $269,000 after purchasing an additional 948 shares during the period. Two Sigma Advisers LP grew its holdings in Lowe's Companies by 24.7% in the fourth quarter. Two Sigma Advisers LP now owns 42,900 shares of the home improvement retailer's stock worth $10,588,000 after purchasing an additional 8,500 shares during the period. Finally, Woodline Partners LP purchased a new stake in Lowe's Companies in the fourth quarter worth about $8,408,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 929 shares of the firm's 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 directly owned 30,099 shares in the company, valued at $7,741,462.80. This trade represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total value of $11,942,606.00. Following the completion of the sale, the executive vice president directly owned 66,566 shares in the company, valued at $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,931 shares of company stock worth $24,945,752. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Lowe's Companies from $280.00 to $283.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Piper Sandler increased their price objective on shares of Lowe's Companies from $269.00 to $294.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. DA Davidson increased their price objective on shares of Lowe's Companies from $240.00 to $266.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Royal Bank Of Canada increased their price objective 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. Finally, Citigroup decreased their price target on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Seventeen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Lowe's Companies currently has a consensus rating of "Moderate Buy" and an average target price of $285.08.

Lowe's Companies Price Performance

Shares of LOW traded down $1.89 during mid-day trading on Friday, reaching $265.68. The stock had a trading volume of 4,079,028 shares, compared to its average volume of 2,502,386. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The business's fifty day moving average is $247.63 and its 200 day moving average is $232.57. The firm has a market cap of $149.00 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 2.45 and a beta of 0.87.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, beating the consensus estimate of $4.24 by $0.09. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. During the same quarter last year, the firm posted $4.10 earnings per share. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Cuts Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend 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 dividend payout ratio is currently 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.