Greatmark Investment Partners Inc. Raises Stake in Lowe's Companies, Inc. $LOW

Key Points

• Greatmark Investment Partners Inc. increased its stake in Lowe's Companies by 4.5%, now owning 88,852 shares valued at approximately $19.7 million.
• Multiple institutional investors are actively adjusting their positions in Lowe's, with notable increases from Nuveen LLC and Pacer Advisors Inc. in the first quarter.
• Lowe's recently announced a quarterly dividend of $1.20 per share, with an annualized yield of 2.0%, indicating a payout ratio of 39.44%.

Greatmark Investment Partners Inc. lifted its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,852 shares of the home improvement retailer's stock after acquiring an additional 3,861 shares during the quarter. Lowe's Companies accounts for 2.5% of Greatmark Investment Partners Inc.'s holdings, making the stock its 15th biggest position. Greatmark Investment Partners Inc.'s holdings in Lowe's Companies were worth $19,714,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Nuveen LLC purchased a new position in Lowe's Companies during the first quarter valued at approximately $681,215,000. Pacer Advisors Inc. increased its holdings 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 buying an additional 1,971,996 shares in the last quarter. Wellington Management Group LLP raised its position in shares of 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 worth $438,751,000 after acquiring an additional 618,775 shares during the period. Invesco Ltd. grew its position in shares of Lowe's Companies by 10.6% during the 1st 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 period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Lowe's Companies by 6.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer's stock valued at $1,192,213,000 after purchasing an additional 330,701 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LOW. Royal Bank Of Canada lifted their target price on shares of Lowe's Companies from $243.00 to $260.00 and gave the company a "sector perform" rating in a research report on Thursday, August 21st. Weiss Ratings restated a "buy (b-)" rating on shares of Lowe's Companies in a research report on Wednesday, October 8th. Piper Sandler boosted their price target on Lowe's Companies from $269.00 to $294.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Wolfe Research initiated coverage on Lowe's Companies in a report on Wednesday, September 17th. They issued an "outperform" rating on the stock. Finally, UBS Group lifted their target price on shares of Lowe's Companies from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Sixteen research 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 an average rating of "Moderate Buy" and a consensus target price of $282.91.

Insider Activity at Lowe's Companies

In other news, 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 transaction of $238,938.80. Following the sale, the executive vice president owned 30,099 shares of the company's stock, valued at $7,741,462.80. The trade was a 2.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is owned by corporate insiders.

Lowe's Companies Trading Up 1.3%

Shares of LOW opened at $245.42 on Wednesday. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $280.64. The firm has a market capitalization of $137.64 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 2.24 and a beta of 0.88. The firm's fifty day simple moving average is $255.27 and its 200-day simple moving average is $234.99.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.09. Lowe's Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The company had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same quarter last year, the company posted $4.10 earnings per share. The business's quarterly revenue was up 1.6% compared to the same quarter last year. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. Lowe's Companies's payout ratio is currently 39.44%.

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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