Greenwood Capital Associates LLC Acquires 1,740 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Greenwood Capital Associates LLC increased its holdings in Lowe's Companies by 97.9% in Q2, acquiring an additional 1,740 shares, bringing its total to 3,518 shares worth around $781,000.
• Multiple institutional investors, including Atwater Malick LLC and Triad Wealth Partners LLC, also increased their stakes in Lowe's, indicating strong institutional interest in the company.
• Lowe's Companies reported $4.33 earnings per share for the latest quarter, exceeding expectations, and recently announced a quarterly dividend of $1.20 per share to be paid on November 5th.

Greenwood Capital Associates LLC lifted its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 97.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,518 shares of the home improvement retailer's stock after purchasing an additional 1,740 shares during the period. Greenwood Capital Associates LLC's holdings in Lowe's Companies were worth $781,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LOW. Atwater Malick LLC grew its stake in shares of Lowe's Companies by 1.7% in the 2nd quarter. Atwater Malick LLC now owns 32,458 shares of the home improvement retailer's stock valued at $7,201,000 after purchasing an additional 542 shares during the period. Mattern Capital Management LLC lifted its holdings in Lowe's Companies by 1.1% during the 2nd quarter. Mattern Capital Management LLC now owns 53,392 shares of the home improvement retailer's stock worth $11,846,000 after buying an additional 605 shares in the last quarter. Hilltop National Bank acquired a new position in Lowe's Companies during the 2nd quarter worth $1,314,000. Triad Wealth Partners LLC lifted its holdings in Lowe's Companies by 28.1% during the 2nd quarter. Triad Wealth Partners LLC now owns 2,091 shares of the home improvement retailer's stock worth $464,000 after buying an additional 459 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Lowe's Companies by 13.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,761 shares of the home improvement retailer's stock worth $17,697,000 after buying an additional 9,677 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LOW. Mizuho increased their price target on Lowe's Companies from $280.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Oppenheimer lifted their price target on Lowe's Companies from $305.00 to $320.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. Citigroup dropped 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. Robert W. Baird raised their price objective on Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Finally, Barclays set a $267.00 price target on Lowe's Companies in a research report on Thursday, August 21st. Seventeen 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $285.50.

Lowe's Companies Stock Performance

Shares of NYSE:LOW opened at $246.24 on Friday. The firm has a market cap of $138.10 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.29 and a beta of 0.88. The firm's fifty day moving average is $253.95 and its 200-day moving average is $234.08. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week 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 the consensus estimate of $4.24 by $0.09. The business had revenue of $23.96 billion for 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 quarter in the previous year, the business earned $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Sell-side analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be issued a dividend of $1.20 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Lowe's Companies's dividend payout ratio is currently 39.44%.

Insider Activity at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 929 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total transaction of $238,938.80. Following the completion of the sale, the executive vice president directly owned 30,099 shares of the company's stock, valued at $7,741,462.80. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brandon J. Sink sold 8,192 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the sale, the executive vice president directly owned 21,603 shares of the company's stock, valued at approximately $5,802,133.74. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,931 shares of company stock worth $24,945,752 over the last three months. 0.27% of the stock is currently owned by company insiders.

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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