Cullinan Associates Inc. Has $18.74 Million Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Cullinan Associates Inc. reduced its stake in Lowe's Companies by 2.4%, holding 84,475 shares valued at approximately $18.74 million, making Lowe's its 20th largest position.
• Several institutional investors, including DAVENPORT & Co LLC and Merit Financial Group LLC, have increased their stakes in Lowe's, reflecting confidence in the stock.
• Lowe's reported earnings of $4.33 per share, exceeding expectations, and declared a quarterly dividend of $1.20 per share with a dividend yield of 1.9%.

Cullinan Associates Inc. cut its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,475 shares of the home improvement retailer's stock after selling 2,097 shares during the period. Lowe's Companies makes up approximately 1.2% of Cullinan Associates Inc.'s holdings, making the stock its 20th biggest position. Cullinan Associates Inc.'s holdings in Lowe's Companies were worth $18,742,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Joule Financial LLC increased its stake in Lowe's Companies by 9.6% during the second quarter. Joule Financial LLC now owns 1,114 shares of the home improvement retailer's stock valued at $247,000 after acquiring an additional 98 shares during the period. Plimoth Trust Co. LLC raised its stake in Lowe's Companies by 1.5% during the second quarter. Plimoth Trust Co. LLC now owns 16,741 shares of the home improvement retailer's stock worth $3,714,000 after acquiring an additional 242 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in Lowe's Companies by 16.0% during the 2nd quarter. DAVENPORT & Co LLC now owns 529,916 shares of the home improvement retailer's stock valued at $117,726,000 after purchasing an additional 72,923 shares during the last quarter. Merit Financial Group LLC raised its stake in shares of Lowe's Companies by 27.1% in the second quarter. Merit Financial Group LLC now owns 34,155 shares of the home improvement retailer's stock valued at $7,578,000 after acquiring an additional 7,282 shares during the last quarter. Finally, Simplicity Wealth LLC raised its position in Lowe's Companies by 55.0% in the 2nd quarter. Simplicity Wealth LLC now owns 16,250 shares of the home improvement retailer's stock valued at $3,605,000 after purchasing an additional 5,766 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LOW shares. DA Davidson upped their target price on shares of Lowe's Companies from $240.00 to $266.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. 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 research report on Thursday, August 21st. Barclays set a $267.00 price target on shares of Lowe's Companies in a report on Thursday, August 21st. Wells Fargo & Company raised their target price on shares of Lowe's Companies from $260.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Finally, Robert W. Baird increased their price objective on Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Seventeen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lowe's Companies presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.50.

Lowe's Companies Stock Performance

LOW stock opened at $246.24 on Monday. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The company has a market capitalization of $138.10 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.28 and a beta of 0.88. The company's 50-day simple moving average is $253.95 and its 200 day simple moving average is $234.20.

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, analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. Lowe's Companies's dividend payout ratio is currently 39.44%.

Insider Buying and Selling

In other Lowe's Companies news, EVP Brandon J. Sink sold 8,192 shares of Lowe's Companies stock in a transaction on Friday, September 5th. The stock was sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the transaction, the executive vice president directly owned 21,603 shares of the company's stock, valued at $5,802,133.74. The trade was a 27.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Juliette Williams Pryor sold 929 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total transaction of $238,938.80. Following the sale, the executive vice president directly owned 30,099 shares of the company's stock, valued at $7,741,462.80. This represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock worth $24,945,752 in the last quarter. Insiders own 0.27% of the company's stock.

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.

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