Fulton Breakefield Broenniman LLC Sells 2,626 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Fulton Breakefield Broenniman LLC reduced its holdings in Lowe's by 2.3%, selling 2,626 shares, which now represent approximately 1.7% of its portfolio, valued at $24,725,000.
• Lowe's reported an earnings per share of $4.33 for the last quarter, exceeding analysts' expectations of $4.24, with a revenue of $23.96 billion.
• Insider trading activity saw significant sales, with CEO Marvin R. Ellison selling 40,000 shares worth over $10 million, reducing their ownership stake by 13.84%.

Fulton Breakefield Broenniman LLC lowered its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 111,438 shares of the home improvement retailer's stock after selling 2,626 shares during the quarter. Lowe's Companies comprises approximately 1.7% of Fulton Breakefield Broenniman LLC's portfolio, making the stock its 18th largest holding. Fulton Breakefield Broenniman LLC's holdings in Lowe's Companies were worth $24,725,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LOW. Nuveen LLC bought a new position in shares of Lowe's Companies in the first quarter worth $681,215,000. Pacer Advisors Inc. increased its stake in Lowe's Companies by 2,984.6% in the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer's stock valued at $475,339,000 after acquiring an additional 1,971,996 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Lowe's Companies by 1,048.5% in the first quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer's stock valued at $172,527,000 after acquiring an additional 675,318 shares during the last quarter. Wellington Management Group LLP increased its stake in Lowe's Companies by 49.0% in the first quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer's stock valued at $438,751,000 after acquiring an additional 618,775 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Lowe's Companies by 10.6% in the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock valued at $1,214,448,000 after acquiring an additional 501,154 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Down 0.9%

Lowe's Companies stock opened at $237.62 on Thursday. The firm has a 50-day moving average of $254.58 and a 200-day moving average of $234.36. The firm has a market cap of $133.26 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.22 and a beta of 0.88. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01.

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

Lowe's Companies Announces Dividend

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

Insider Activity at Lowe's Companies

In other Lowe's Companies news, EVP Brandon J. Sink sold 8,192 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the sale, the executive vice president directly owned 21,603 shares in the company, valued at $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marvin R. Ellison sold 40,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the sale, the chief executive officer owned 249,043 shares of the company's stock, valued at $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LOW has been the topic of a number of research analyst reports. Barclays set a $267.00 target price on Lowe's Companies in a research note on Thursday, August 21st. Gordon Haskett raised Lowe's Companies to a "hold" rating in a research note on Wednesday, August 13th. Royal Bank Of Canada increased their target price on Lowe's Companies from $243.00 to $260.00 and gave the company a "sector perform" rating in a research note on Thursday, August 21st. Wolfe Research started coverage on shares of Lowe's Companies in a research report on Wednesday, September 17th. They set an "outperform" rating for the company. Finally, KeyCorp upped their price target on shares of Lowe's Companies from $266.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $283.13.

About Lowe's Companies

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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