Lowe's Companies, Inc. $LOW Shares Bought by PineStone Asset Management Inc.

Key Points

• PineStone Asset Management Inc. increased its holdings in Lowe's Companies by 7.5%, acquiring a total of 989,700 shares, which now represent 1.4% of its portfolio.
• Recent insider transactions show significant sales, with EVP Joseph Michael Mcfarland selling over 43,000 shares, reflecting a 39.69% decrease in his ownership.
• Equity analysts remain optimistic, with 16 analysts rating Lowe's as a "Buy" and a consensus target price of $285.50, reflecting positive growth expectations.

PineStone Asset Management Inc. grew its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 989,700 shares of the home improvement retailer's stock after purchasing an additional 68,641 shares during the quarter. Lowe's Companies accounts for 1.4% of PineStone Asset Management Inc.'s portfolio, making the stock its 24th largest position. PineStone Asset Management Inc. owned about 0.18% of Lowe's Companies worth $219,585,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LOW. Wood Tarver Financial Group LLC acquired a new position in shares of Lowe's Companies during the 4th quarter valued at $25,000. Fairway Wealth LLC acquired a new position in shares of Lowe's Companies in the 1st quarter worth $32,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe's Companies in the 1st quarter worth $36,000. IFS Advisors LLC grew its holdings in shares of Lowe's Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 60 shares during the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in shares of Lowe's Companies in the 1st quarter worth $38,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lowe's Companies

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of Lowe's Companies stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the completion of the sale, the executive vice president owned 66,566 shares of the company's stock, valued at approximately $18,145,891.60. This trade represents a 39.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brandon J. Sink sold 8,192 shares of Lowe's Companies 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 of the company's stock, valued at approximately $5,802,133.74. The trade was a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock worth $24,945,752 in the last ninety days. Company insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial lifted their target price on Lowe's Companies from $264.00 to $283.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. KeyCorp lifted their target price on Lowe's Companies from $266.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Gordon Haskett upgraded Lowe's Companies to a "hold" rating in a report on Wednesday, August 13th. Wolfe Research assumed coverage on Lowe's Companies in a report on Wednesday, September 17th. They issued an "outperform" rating on the stock. Finally, UBS Group lifted their target price on Lowe's Companies from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $285.50.

Lowe's Companies Trading Down 0.6%

Shares of LOW stock opened at $255.71 on Friday. The company has a market capitalization of $143.41 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 2.38 and a beta of 0.87. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The stock's fifty day simple moving average is $250.85 and its 200-day simple moving average is $233.07.

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

Lowe's Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $0.012 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $0.05 dividend on an annualized basis and a yield of 0.0%. Lowe's Companies's dividend payout ratio (DPR) is presently 39.44%.

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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