Confluence Investment Management LLC Trims Stake in Lowe's Companies, Inc. $LOW

Key Points

• Confluence Investment Management cut its Lowe’s stake by 8.2% in the second quarter, selling 17,190 shares and retaining 192,874 shares valued at approximately $42.5 million. Institutional investors collectively own 74.06% of the company.
• Lowe’s insiders sold 25,980 shares worth about $5.8 million over the past 90 days, including significant sales by two executive vice presidents.
• Lowe’s exceeded quarterly earnings and revenue expectations, while raising its quarterly dividend to $1.25 per share, a 4.2% increase. Analysts maintain a “Moderate Buy” consensus with an average price target of $263.67, despite some recent downgrades and target reductions.

Confluence Investment Management LLC lowered its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 8.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 192,874 shares of the home improvement retailer's stock after selling 17,190 shares during the quarter. Confluence Investment Management LLC's holdings in Lowe's Companies were worth $42,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Lowe's Companies by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 56,230,787 shares of the home improvement retailer's stock worth $13,560,617,000 after buying an additional 924,625 shares in the last quarter. State Street Corp raised its holdings in shares of Lowe's Companies by 0.5% in the 3rd quarter. State Street Corp now owns 25,036,276 shares of the home improvement retailer's stock valued at $6,291,867,000 after acquiring an additional 124,501 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Lowe's Companies by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 13,326,581 shares of the home improvement retailer's stock valued at $3,201,329,000 after acquiring an additional 887,579 shares during the last quarter. Norges Bank bought a new stake in shares of Lowe's Companies during the 4th quarter valued at about $1,993,697,000. Finally, Northern Trust Corp grew its holdings in shares of Lowe's Companies by 1.5% during the third quarter. Northern Trust Corp now owns 6,830,080 shares of the home improvement retailer's stock worth $1,716,467,000 after purchasing an additional 103,827 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, EVP Janice Dupre sold 14,150 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $221.90, for a total transaction of $3,139,885.00. Following the completion of the sale, the executive vice president directly owned 39,785 shares in the company, valued at $8,828,291.50. This represents a 26.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Juliette Williams Pryor sold 9,330 shares of the company's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $224.81, for a total transaction of $2,097,477.30. Following the sale, the executive vice president owned 16,142 shares of the company's stock, valued at approximately $3,628,883.02. The trade was a 36.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 25,980 shares of company stock valued at $5,796,937. Insiders own 0.29% of the company's stock.

Lowe's Companies Trading Up 2.1%

Shares of NYSE LOW opened at $212.14 on Tuesday. The stock's 50-day moving average is $214.62 and its 200 day moving average is $238.17. The stock has a market cap of $118.95 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 2.62 and a beta of 0.86. Lowe's Companies, Inc. has a 1-year low of $199.40 and a 1-year high of $293.06.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, May 20th. The home improvement retailer reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.06. Lowe's Companies had a negative return on equity of 67.96% and a net margin of 7.51%.The business had revenue of $23.08 billion during the quarter, compared to analyst estimates of $22.98 billion. During the same quarter in the prior year, the firm earned $2.92 earnings per share. Lowe's Companies's revenue for the quarter was up 10.3% on a year-over-year basis. Lowe's Companies has set its FY 2026 guidance at 12.250-12.750 EPS. On average, analysts forecast that Lowe's Companies, Inc. will post 12.48 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.4%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.20. Lowe's Companies's payout ratio is 42.27%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BTIG Research downgraded shares of Lowe's Companies to a "reduce" rating in a research note on Tuesday, May 12th. Sanford C. Bernstein cut their price target on shares of Lowe's Companies from $303.00 to $281.00 and set an "outperform" rating for the company in a research note on Thursday, May 14th. Oppenheimer decreased their price target on shares of Lowe's Companies from $315.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, May 18th. HSBC lowered their price objective on shares of Lowe's Companies from $260.00 to $220.00 and set a "hold" rating on the stock in a research report on Thursday, May 21st. Finally, Wolfe Research set a $254.00 price objective on shares of Lowe's Companies in a report on Thursday, May 21st. Twenty-three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $263.67.

Lowe's Companies Profile

Lowe's Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe's also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe's Companies, Inc. (NYSE:LOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.