Convergence Financial LLC Sells 8,494 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Convergence Financial LLC reduced its Lowe’s position by 52.3%, selling 8,494 shares and retaining 7,735 shares valued at approximately $1.43 million. Institutional investors collectively own 74.06% of the company.
• Analysts maintain a generally positive outlook, with Lowe’s receiving a “Moderate Buy” consensus rating and an average price target of $253.48, despite several firms recently lowering their targets.
• Lowe’s reported quarterly EPS of $4.40, exceeding estimates, while revenue rose 8.3% year over year to $25.96 billion. The company also declared a quarterly dividend of $1.25, representing a 2.5% annualized yield.

Convergence Financial LLC cut its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 52.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,735 shares of the home improvement retailer's stock after selling 8,494 shares during the period. Convergence Financial LLC's holdings in Lowe's Companies were worth $1,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. AMI Investment Management Inc. lifted its position in shares of Lowe's Companies by 5.9% in the third quarter. AMI Investment Management Inc. now owns 22,919 shares of the home improvement retailer's stock valued at $4,224,000 after acquiring an additional 1,284 shares in the last quarter. Sigma Investment Counselors Inc. boosted its stake in shares of Lowe's Companies by 7.3% in the third quarter. Sigma Investment Counselors Inc. now owns 30,990 shares of the home improvement retailer's stock worth $5,711,000 after acquiring an additional 2,121 shares during the period. William Mack & Associates Inc. bought a new position in shares of Lowe's Companies in the third quarter worth about $31,000. Great Lakes Retirement Inc. grew its position in shares of Lowe's Companies by 1.7% during the third quarter. Great Lakes Retirement Inc. now owns 12,702 shares of the home improvement retailer's stock worth $2,341,000 after purchasing an additional 211 shares in the last quarter. Finally, Generali Asset Management SPA SGR grew its position in shares of Lowe's Companies by 4.6% during the third quarter. Generali Asset Management SPA SGR now owns 53,920 shares of the home improvement retailer's stock worth $9,937,000 after purchasing an additional 2,383 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on LOW shares. Guggenheim reissued a "buy" rating and set a $275.00 target price on shares of Lowe's Companies in a research note on Monday, September 21st. Stifel Nicolaus dropped their price target on Lowe's Companies from $220.00 to $195.00 and set a "hold" rating for the company in a research note on Monday. Sanford C. Bernstein dropped their price target on Lowe's Companies from $261.00 to $254.00 and set an "outperform" rating for the company in a research note on Wednesday, September 9th. Mizuho cut their price objective on shares of Lowe's Companies from $280.00 to $250.00 and set an "outperform" rating for the company in a report on Thursday, August 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Lowe's Companies from $255.00 to $245.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and an average target price of $253.48.

Lowe's Companies Stock Down 0.1%

Lowe's Companies stock opened at $198.02 on Thursday. The company has a market cap of $111.10 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.66 and a beta of 0.89. The firm's fifty day moving average is $196.68 and its 200 day moving average is $227.04. Lowe's Companies, Inc. has a 52-week low of $178.45 and a 52-week high of $293.06.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The home improvement retailer reported $4.40 EPS for the quarter, beating the consensus estimate of $4.22 by $0.18. Lowe's Companies had a net margin of 7.34% and a negative return on equity of 75.67%. The business had revenue of $25.96 billion during the quarter, compared to analyst estimates of $26.13 billion. During the same quarter last year, the business earned $4.33 earnings per share. Lowe's Companies's quarterly revenue was up 8.3% compared to the same quarter last year. Lowe's Companies has set its FY 2026 guidance at 12.250-12.250 EPS. On average, equities research analysts anticipate that Lowe's Companies, Inc. will post 12.25 earnings per share for the current fiscal year.

Lowe's Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Wednesday, October 21st will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, October 21st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.5%. Lowe's Companies's dividend payout ratio (DPR) is presently 42.27%.

About Lowe's Companies

Lowe's Companies, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and commercial customers across the United States. The company sells products for home construction, maintenance, repair, remodeling and improvement through its stores and digital platforms.

Its merchandise includes appliances, tools, hardware, lumber, building materials, electrical and plumbing supplies, paint, flooring, kitchen and bathroom products, outdoor living items, lawn and garden products, and seasonal merchandise.

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