InTrack Investment Management Inc Has $1.08 Million Stock Position in Lowe's Companies, Inc. $LOW

Key Points

• InTrack Investment Management Inc increased its stake in Lowe's Companies by 33.8% in the second quarter, bringing its total holding to $1.08 million.
• Wells Fargo raised its target price for Lowe's from $260 to $300, contributing to a consensus rating of "Moderate Buy" among analysts.
• Lowe's announced a quarterly dividend of $1.20 per share, equating to an annual yield of 2.0%, with an ex-dividend date set for October 22nd.

InTrack Investment Management Inc grew its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 33.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,885 shares of the home improvement retailer's stock after buying an additional 1,235 shares during the period. InTrack Investment Management Inc's holdings in Lowe's Companies were worth $1,084,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Values Added Financial LLC acquired a new stake in shares of Lowe's Companies in the 2nd quarter valued at $236,000. Trifecta Capital Advisors LLC increased its stake in shares of Lowe's Companies by 158.7% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 3,953 shares of the home improvement retailer's stock valued at $877,000 after buying an additional 2,425 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Lowe's Companies by 0.3% in the 2nd quarter. Vontobel Holding Ltd. now owns 222,065 shares of the home improvement retailer's stock valued at $49,270,000 after buying an additional 687 shares during the period. AMI Investment Management Inc. increased its stake in shares of Lowe's Companies by 1.3% in the 2nd quarter. AMI Investment Management Inc. now owns 22,469 shares of the home improvement retailer's stock valued at $4,985,000 after buying an additional 297 shares during the period. Finally, Maryland State Retirement & Pension System increased its stake in shares of Lowe's Companies by 2.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 27,241 shares of the home improvement retailer's stock valued at $6,044,000 after buying an additional 777 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Lowe's Companies from $260.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Mizuho lifted their price objective on Lowe's Companies from $280.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Evercore ISI decreased their price objective on Lowe's Companies from $275.00 to $250.00 and set an "in-line" rating for the company in a research note on Tuesday. DA Davidson lifted their price objective on Lowe's Companies from $240.00 to $266.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Finally, Truist Financial lifted their price objective on Lowe's Companies from $264.00 to $283.00 and gave the stock a "buy" 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 given a Sell rating to the company. According to data from MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and an average target price of $283.13.

Insiders Place Their Bets

In other news, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 30,099 shares in the company, valued at approximately $7,741,462.80. This represents a 2.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brandon J. Sink sold 8,192 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $268.58, for a total value of $2,200,207.36. Following the sale, the executive vice president directly owned 21,603 shares in the company, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock valued at $24,945,752 over the last ninety days. Company insiders own 0.27% of the company's stock.

Lowe's Companies Price Performance

NYSE LOW opened at $237.62 on Thursday. The business has a fifty day moving average price of $254.58 and a two-hundred day moving average price of $234.36. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The stock has a market capitalization of $133.26 billion, a PE ratio of 19.53, a PEG ratio of 2.22 and a beta of 0.88.

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 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 during the quarter, compared to analysts' expectations of $23.99 billion. During the same period in the prior year, the company earned $4.10 earnings per share. The company's quarterly revenue 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, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a yield of 2.0%. Lowe's Companies's dividend payout ratio is presently 39.44%.

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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