Hartline Investment Corp Has $6.33 Million Stock Position in Lowe's Companies, Inc. $LOW

Key Points

• Hartline Investment Corp reduced its stake in Lowe's Companies, Inc. by 3.7%, holding 28,533 shares worth approximately $6.33 million as of the latest reporting period.
• Lowe's reported $4.33 EPS for the quarter, surpassing analyst expectations, alongside revenue of $23.96 billion, which reflects a 1.6% increase year-over-year.
• The company announced a quarterly dividend of $1.20 per share, representing a dividend yield of 2.0%, with the ex-dividend date set for October 22nd.

Hartline Investment Corp lowered its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,533 shares of the home improvement retailer's stock after selling 1,094 shares during the quarter. Lowe's Companies makes up approximately 0.7% of Hartline Investment Corp's holdings, making the stock its 29th biggest holding. Hartline Investment Corp's holdings in Lowe's Companies were worth $6,331,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in shares of Lowe's Companies during the 1st quarter worth about $32,000. Olistico Wealth LLC acquired a new stake in shares of Lowe's Companies during the 2nd quarter worth about $33,000. Inlight Wealth Management LLC acquired a new stake in shares of Lowe's Companies during the 1st quarter worth about $36,000. TruNorth Capital Management LLC acquired a new stake in shares of Lowe's Companies during the 1st quarter worth about $38,000. Finally, JNBA Financial Advisors increased its position in shares of Lowe's Companies by 147.1% during the 1st quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer's stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Trading Up 0.7%

Shares of NYSE LOW opened at $244.81 on Friday. The firm has a market capitalization of $137.30 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.88. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $282.70. The firm's 50-day moving average is $255.21 and its 200-day moving average is $234.69.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued 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. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. 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 firm earned $4.10 EPS. The company's revenue for the quarter was up 1.6% on a year-over-year basis. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio (DPR) is 39.44%.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, CEO Marvin R. Ellison sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the sale, the chief executive officer directly owned 249,043 shares in the company, valued at approximately $65,772,256.30. This trade represents a 13.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Brandon J. Sink sold 8,192 shares of the firm's stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,931 shares of company stock valued at $24,945,752. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LOW. Guggenheim reiterated a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a research report on Thursday, August 21st. JPMorgan Chase & Co. increased their price objective on shares of Lowe's Companies from $280.00 to $283.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. UBS Group increased their price objective on shares of Lowe's Companies from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. DA Davidson increased their price objective on shares of Lowe's Companies from $240.00 to $266.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Finally, Oppenheimer increased their price objective on shares of Lowe's Companies from $305.00 to $320.00 and gave the stock an "outperform" rating in a report on Thursday, September 25th. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lowe's Companies presently has an average rating of "Moderate Buy" and an average price target of $282.91.

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.

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