Glenview Trust co Purchases 17,653 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Glenview Trust co increased its stake in Lowe's Companies, acquiring an additional 17,653 shares, bringing its total holdings to 165,234 shares, which are valued at approximately $38.5 million.
• Analysts have shown mixed sentiments, with Mizuho raising its price target for Lowe's from $280 to $285 and others like Citigroup lowering theirs from $253 to $242, indicating varied expectations for the stock's future performance.
• Lowe's Companies recently declared a quarterly dividend of $0.012 per share, reflecting a shift in its dividend strategy, with a current annual yield of 0.0% and a payout ratio of 39.44%.

Glenview Trust co increased its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 12.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,234 shares of the home improvement retailer's stock after purchasing an additional 17,653 shares during the quarter. Lowe's Companies makes up 0.7% of Glenview Trust co's portfolio, making the stock its 29th biggest position. Glenview Trust co's holdings in Lowe's Companies were worth $38,538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. Nuveen LLC acquired a new stake in Lowe's Companies in the first quarter worth about $681,215,000. Pacer Advisors Inc. increased its position 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 worth $475,339,000 after purchasing an additional 1,971,996 shares during the period. GAMMA Investing LLC increased its position in Lowe's Companies by 26,796.0% in the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer's stock worth $386,540,000 after purchasing an additional 1,651,170 shares during the period. Assenagon Asset Management S.A. increased its position 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 worth $172,527,000 after purchasing an additional 675,318 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Lowe's Companies in the fourth quarter worth about $159,029,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Trading Down 0.2%

Shares of NYSE:LOW traded down $0.51 during trading on Friday, hitting $271.89. 2,896,462 shares of the company were exchanged, compared to its average volume of 2,801,290. The stock has a market cap of $152.48 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 2.52 and a beta of 0.87. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The firm has a fifty day moving average price of $243.26 and a two-hundred day moving average price of $231.83.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $23.96 billion for 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%.The business's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.10 EPS. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Cuts 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 $0.012 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.0%. Lowe's Companies's payout ratio is presently 39.44%.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent analyst reports. Truist Financial raised their target price on Lowe's Companies from $264.00 to $283.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Piper Sandler lifted their price objective on Lowe's Companies from $269.00 to $294.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Royal Bank Of Canada lifted their price objective on Lowe's Companies from $243.00 to $260.00 and gave the company a "sector perform" rating in a report on Thursday, August 21st. Gordon Haskett upgraded Lowe's Companies to a "hold" rating in a research note on Wednesday, August 13th. Finally, JPMorgan Chase & Co. boosted their target price on Lowe's Companies from $280.00 to $283.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. 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 company's stock. According to MarketBeat.com, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average target price of $284.13.

Insiders Place Their Bets

In related news, CEO Marvin R. Ellison sold 40,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 249,043 shares of the company's stock, valued at approximately $65,772,256.30. The trade was a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Juliette Williams Pryor sold 929 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the transaction, the executive vice president directly owned 30,099 shares in the company, valued at $7,741,462.80. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock valued at $24,945,752 over the last 90 days. 0.27% of the stock is owned by insiders.

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.