Hennessy Advisors Inc. trimmed its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 86.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,381 shares of the home improvement retailer's stock after selling 9,019 shares during the quarter. Hennessy Advisors Inc.'s holdings in Lowe's Companies were worth $306,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in Lowe's Companies in the first quarter worth $32,000. Inlight Wealth Management LLC bought a new position in shares of Lowe's Companies during the first quarter valued at $36,000. TruNorth Capital Management LLC bought a new position in shares of Lowe's Companies during the first quarter valued at $38,000. JNBA Financial Advisors lifted its holdings in shares of Lowe's Companies by 147.1% during the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer's stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, Vista Cima Wealth Management LLC bought a new position in shares of Lowe's Companies during the first quarter valued at $44,000. 74.06% of the stock is owned by institutional investors.
Lowe's Companies Stock Down 0.4%
NYSE LOW opened at $246.24 on Friday. The stock's 50-day moving average price is $253.95 and its 200-day moving average price is $234.14. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The company has a market capitalization of $138.10 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 2.28 and a beta of 0.88.
Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 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 firm had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. During the same quarter last year, the company earned $4.10 earnings per share. The business's revenue for the quarter 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. Research analysts anticipate 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 paid a $1.20 dividend. The ex-dividend date of this dividend 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 (DPR) is 39.44%.
Insider Buying and Selling
In other news, EVP Brandon J. Sink sold 8,192 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $268.58, for a total value of $2,200,207.36. Following the transaction, the executive vice president owned 21,603 shares of the company's stock, valued at $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the completion of the transaction, the executive vice president directly owned 30,099 shares in the company, valued at $7,741,462.80. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock worth $24,945,752 over the last ninety days. 0.27% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. Guggenheim reaffirmed a "buy" rating and set a $300.00 price target on shares of Lowe's Companies in a report on Thursday, August 21st. Barclays set a $267.00 target price on Lowe's Companies in a report on Thursday, August 21st. Wolfe Research assumed coverage on Lowe's Companies in a report on Wednesday, September 17th. They issued an "outperform" rating on the stock. Wells Fargo & Company increased their target price on Lowe's Companies from $260.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Finally, Piper Sandler increased their target price on Lowe's Companies from $269.00 to $294.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Seventeen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $285.50.
Get Our Latest Stock Report on LOW
Lowe's Companies Company Profile
(
Free Report)
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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