First Merchants Corp Reduces Stock Position in Lowe's Companies, Inc. $LOW

First Merchants Corp cut its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,332 shares of the home improvement retailer's stock after selling 1,898 shares during the period. First Merchants Corp's holdings in Lowe's Companies were worth $14,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in LOW. Fairway Wealth LLC acquired a new position in Lowe's Companies in the first quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new position in Lowe's Companies in the second quarter valued at approximately $33,000. Inlight Wealth Management LLC acquired a new position in Lowe's Companies in the first quarter valued at approximately $36,000. TruNorth Capital Management LLC acquired a new position in Lowe's Companies in the first quarter valued at approximately $38,000. Finally, JNBA Financial Advisors lifted its holdings in Lowe's Companies by 147.1% in the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer's stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lowe's Companies news, CEO Marvin R. Ellison sold 40,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total value of $10,564,000.00. Following the sale, the chief executive officer directly owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value of $11,942,606.00. Following the completion of the sale, the executive vice president owned 66,566 shares in the company, valued at approximately $18,145,891.60. This represents a 39.69% 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. Corporate insiders own 0.27% of the company's stock.

Lowe's Companies Trading Down 0.9%

NYSE:LOW opened at $237.62 on Thursday. The firm has a market cap of $133.26 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.88. The stock has a fifty day moving average price of $254.58 and a 200 day moving average price of $234.36. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.09. The firm had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. Lowe's Companies had a negative return on equity of 52.02% and a net margin of 8.20%.Lowe's Companies's revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Equities analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be paid a $1.20 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. Lowe's Companies's dividend payout ratio (DPR) is currently 39.44%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Stifel Nicolaus upped their price objective on Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 18th. Oppenheimer upped their price objective on Lowe's Companies from $305.00 to $320.00 and gave the company an "outperform" rating in a report on Thursday, September 25th. Robert W. Baird upped their price target on Lowe's Companies from $285.00 to $295.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Wells Fargo & Company upped their price target on Lowe's Companies from $260.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Finally, Citigroup decreased their price target on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Sixteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average target price of $283.13.

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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