Fifth Third Wealth Advisors LLC Acquires 2,072 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in Lowe's Companies, Inc. by 4.4% during the second quarter, acquiring an additional 2,072 shares, bringing its total holdings to 49,551 shares valued at approximately $10.99 million.
• Lowe's reported a quarterly earnings per share (EPS) of $4.33, surpassing consensus estimates by $0.09, while total revenue for the quarter was $23.96 billion, slightly below expectations.
• The company announced a quarterly dividend of $1.20 per share, set to be paid on November 5th, representing an annualized dividend yield of 2.1%.

Fifth Third Wealth Advisors LLC grew its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,551 shares of the home improvement retailer's stock after acquiring an additional 2,072 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Lowe's Companies were worth $10,994,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Fairway Wealth LLC bought a new stake in shares of Lowe's Companies during the 1st quarter worth $32,000. Olistico Wealth LLC bought a new stake in shares of Lowe's Companies during the 2nd quarter worth $33,000. Inlight Wealth Management LLC bought a new stake in Lowe's Companies during the first quarter worth about $36,000. TruNorth Capital Management LLC bought a new stake in Lowe's Companies during the first quarter worth about $38,000. Finally, JNBA Financial Advisors lifted its stake in Lowe's Companies by 147.1% during the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer's stock worth $39,000 after purchasing an additional 100 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Stock Down 1.0%

NYSE:LOW opened at $232.28 on Friday. The firm has a market capitalization of $130.27 billion, a P/E ratio of 19.09, a P/E/G ratio of 2.17 and a beta of 0.88. The company has a fifty day moving average of $254.92 and a 200 day moving average of $234.38. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01.

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 EPS for the quarter, beating the consensus estimate of $4.24 by $0.09. The firm had revenue of $23.96 billion during the quarter, compared to the consensus estimate of $23.99 billion. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio is currently 39.44%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Telsey Advisory Group restated an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research report on Thursday, August 21st. Truist Financial boosted their price objective on shares of Lowe's Companies from $264.00 to $283.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Gordon Haskett upgraded shares of Lowe's Companies to a "hold" rating in a report on Wednesday, August 13th. Barclays set a $267.00 price target on shares of Lowe's Companies in a research note on Thursday, August 21st. Finally, Stifel Nicolaus boosted their price target on shares of Lowe's Companies from $240.00 to $265.00 and gave the stock a "hold" rating in a research note on Monday, August 18th. Sixteen 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $283.13.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, CEO Marvin R. Ellison sold 40,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the completion of the transaction, the chief executive officer directly owned 249,043 shares in the company, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the 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 directly 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 disclosure for this sale can be found here. Insiders have sold a total of 92,931 shares of company stock valued at $24,945,752 over the last quarter. Company insiders own 0.27% of the company's stock.

Lowe's Companies 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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