Lowe's Companies, Inc. $LOW Shares Bought by Novare Capital Management LLC

Key Points

• Novare Capital Management LLC increased its stake in Lowe's Companies, owning 48,269 shares valued at approximately $10.7 million after acquiring more shares in Q2.
• Lowe's Companies reported earnings of $4.33 per share, beating estimates, with revenue of $23.96 billion, reflecting a 1.6% year-over-year increase.
• The company announced a quarterly dividend of $1.20 per share, with a planned payment date of November 5th, implying a 2.0% dividend yield.

Novare Capital Management LLC boosted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,269 shares of the home improvement retailer's stock after acquiring an additional 1,256 shares during the period. Novare Capital Management LLC's holdings in Lowe's Companies were worth $10,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. SeaBridge Investment Advisors LLC raised its position in shares of Lowe's Companies by 3.7% in the second quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer's stock valued at $2,859,000 after buying an additional 465 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Lowe's Companies by 8.1% in the first quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock valued at $3,860,000 after buying an additional 1,242 shares during the last quarter. Advent Capital Management DE raised its position in shares of Lowe's Companies by 20.0% in the first quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer's stock valued at $4,198,000 after buying an additional 3,000 shares during the last quarter. Cornerstone Wealth Group LLC raised its position in shares of Lowe's Companies by 12.6% in the first quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer's stock valued at $6,848,000 after buying an additional 3,295 shares during the last quarter. Finally, Strathmore Capital Advisors Inc. acquired a new position in shares of Lowe's Companies in the second quarter valued at approximately $2,717,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LOW shares. Gordon Haskett raised shares of Lowe's Companies to a "hold" rating in a research report on Wednesday, August 13th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Thursday, August 21st. Sanford C. Bernstein upped their price target on shares of Lowe's Companies from $266.00 to $279.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Stifel Nicolaus upped their price target on shares of Lowe's Companies from $240.00 to $265.00 and gave the stock a "hold" rating in a research report on Monday, August 18th. Finally, Royal Bank Of Canada upped their price target on shares of Lowe's Companies from $243.00 to $260.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lowe's Companies currently has a consensus rating of "Moderate Buy" and a consensus target price of $282.91.

Lowe's Companies Trading Up 0.7%

Shares of LOW stock opened at $244.81 on Friday. The company 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. The firm has a fifty day simple moving average of $255.21 and a 200-day simple moving average of $234.69. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $282.70.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.09. The business had revenue of $23.96 billion during the quarter, compared to the consensus estimate of $23.99 billion. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Equities research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The company also recently announced 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 is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. Lowe's Companies's dividend payout ratio is 39.44%.

Insider Activity

In related news, 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 sale, the chief executive officer directly owned 249,043 shares of the company's stock, valued at $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brandon J. Sink sold 8,192 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the sale, the executive vice president directly owned 21,603 shares in the company, valued at $5,802,133.74. This represents 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 valued at $24,945,752 over the last ninety days. 0.27% of the stock is owned by company insiders.

About Lowe's Companies

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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