Cardinal Capital Management Has $10.66 Million Stake in Lowe's Companies, Inc. $LOW

Key Points

• Cardinal Capital Management increased its stake in Lowe's Companies by 2.4%, owning 48,035 shares valued at approximately $10.66 million, making it the 18th largest position in their portfolio.
• Lowe's reported earnings of $4.33 per share in its last quarterly earnings, beating estimates and showing a year-over-year increase in revenue of 1.6%.
• Insider selling activity has been notable, with executives selling over 92,000 shares valued at nearly $25 million in the past three months, reducing their overall ownership in the company significantly.

Cardinal Capital Management boosted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 48,035 shares of the home improvement retailer's stock after acquiring an additional 1,103 shares during the period. Lowe's Companies accounts for 1.6% of Cardinal Capital Management's portfolio, making the stock its 18th largest position. Cardinal Capital Management's holdings in Lowe's Companies were worth $10,658,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Counterpoint Mutual Funds LLC bought a new position in Lowe's Companies during the second quarter worth about $294,000. Opal Wealth Advisors LLC increased its stake in shares of Lowe's Companies by 4.5% in the 2nd quarter. Opal Wealth Advisors LLC now owns 2,806 shares of the home improvement retailer's stock valued at $623,000 after acquiring an additional 121 shares during the last quarter. KFG Wealth Management LLC increased its stake in shares of Lowe's Companies by 7.0% in the 2nd quarter. KFG Wealth Management LLC now owns 1,065 shares of the home improvement retailer's stock valued at $236,000 after acquiring an additional 70 shares during the last quarter. Chapin Davis Inc. increased its stake in shares of Lowe's Companies by 32.0% in the 2nd quarter. Chapin Davis Inc. now owns 3,340 shares of the home improvement retailer's stock valued at $741,000 after acquiring an additional 810 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Lowe's Companies by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 8,620 shares of the home improvement retailer's stock valued at $1,913,000 after acquiring an additional 1,514 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Insider Activity

In other Lowe's Companies news, EVP Joseph Michael Mcfarland sold 43,810 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the completion of the transaction, the executive vice president owned 66,566 shares of the company's stock, valued at approximately $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Juliette Williams Pryor sold 929 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $7,741,462.80. This represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock valued at $24,945,752 in the last three months. Company insiders own 0.27% of the company's stock.

Lowe's Companies Stock Performance

LOW opened at $260.86 on Tuesday. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The company has a market capitalization of $146.30 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.45 and a beta of 0.87. The stock has a fifty day moving average of $248.40 and a 200-day moving average of $232.62.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data 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. 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 analysts' expectations of $23.99 billion. During the same quarter in the previous year, the company earned $4.10 EPS. The business's revenue was up 1.6% on a year-over-year basis. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, equities research analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Cuts Dividend

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

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 18th. UBS Group upped their price objective on shares of Lowe's Companies from $300.00 to $325.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Barclays set a $267.00 price objective on shares of Lowe's Companies in a research report on Thursday, August 21st. KeyCorp boosted their target price on Lowe's Companies from $266.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Finally, Guggenheim reissued a "buy" rating and issued a $300.00 target price on shares of Lowe's Companies 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $284.88.

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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