Forvis Mazars Wealth Advisors LLC Acquires 1,142 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Forvis Mazars Wealth Advisors LLC increased its stake in Lowe's Companies by 3.3%, now holding 36,211 shares valued at $8.45 million.
• Lowe's reported earnings per share of $2.92, surpassing analysts' expectations, but revenue decreased by 2% year-over-year.
• The company announced a quarterly dividend increase to $1.20, resulting in an annualized dividend of $4.80 and a yield of 1.9%.

Forvis Mazars Wealth Advisors LLC boosted its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 36,211 shares of the home improvement retailer's stock after purchasing an additional 1,142 shares during the period. Forvis Mazars Wealth Advisors LLC's holdings in Lowe's Companies were worth $8,446,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Wood Tarver Financial Group LLC acquired a new position in shares of Lowe's Companies in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new position in shares of Lowe's Companies in the first quarter valued at approximately $32,000. Orion Capital Management LLC acquired a new position in shares of Lowe's Companies in the fourth quarter valued at approximately $36,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe's Companies in the first quarter valued at approximately $36,000. Finally, IFS Advisors LLC grew its position in shares of Lowe's Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 60 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Price Performance

LOW traded up $5.3180 during trading on Tuesday, hitting $256.2080. 4,697,399 shares of the stock traded hands, compared to its average volume of 2,909,601. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The company has a market cap of $143.59 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 2.37 and a beta of 0.89. The business has a 50 day moving average price of $227.16 and a 200 day moving average price of $229.98.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.06 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.150-12.400 EPS. On average, equities research analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date was Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 39.77%.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on LOW. JPMorgan Chase & Co. decreased their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the company a "buy" rating in a research report on Thursday, May 22nd. Wells Fargo & Company dropped their price target on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Royal Bank Of Canada dropped their price target on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus lifted their price target on shares of Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a research report on Monday. Sixteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $271.68.

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.