Lowe's Companies, Inc. $LOW Shares Purchased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in Lowe's Companies by 0.8%, owning approximately $64.65 million worth of shares after acquiring an additional 2,247 shares in the second quarter.
• Wall Street analysts have raised their price targets for Lowe's Companies; DA Davidson set a new target of $266, while Telsey Advisory Group and KeyCorp set targets of $305 and $300 respectively, with a general average target of $285.50.
• Insider transactions included EVP Brandon J. Sink selling 8,192 shares and CEO Marvin R. Ellison selling 40,000 shares, indicating significant shifts in executive ownership.

Janney Montgomery Scott LLC raised its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 291,403 shares of the home improvement retailer's stock after acquiring an additional 2,247 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.05% of Lowe's Companies worth $64,654,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SeaBridge Investment Advisors LLC boosted its stake in shares of Lowe's Companies by 3.7% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer's stock worth $2,859,000 after acquiring an additional 465 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Lowe's Companies by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock valued at $29,223,000 after buying an additional 1,470 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Lowe's Companies by 8.1% during the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock worth $3,860,000 after buying an additional 1,242 shares during the period. Advent Capital Management DE lifted its position in shares of Lowe's Companies by 20.0% during the 1st 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 in the last quarter. Finally, Cornerstone Wealth Group LLC lifted its position in shares of Lowe's Companies by 12.6% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of research analyst reports. DA Davidson upped their price objective on shares of Lowe's Companies from $240.00 to $266.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. Guggenheim restated a "buy" rating and set a $300.00 price target on shares of Lowe's Companies in a research report on Thursday, August 21st. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a report on Thursday, August 21st. KeyCorp boosted their price objective on Lowe's Companies from $266.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Finally, Royal Bank Of Canada raised their target price on Lowe's Companies from $243.00 to $260.00 and gave the company a "sector perform" rating in a research report on Thursday, August 21st. Sixteen equities 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $285.50.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Brandon J. Sink sold 8,192 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total value of $10,564,000.00. Following the transaction, the chief executive officer directly owned 249,043 shares of the company's stock, valued at $65,772,256.30. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,931 shares of company stock worth $24,945,752. 0.27% of the stock is currently owned by insiders.

Lowe's Companies Price Performance

Shares of Lowe's Companies stock opened at $251.20 on Wednesday. The stock has a market capitalization of $140.88 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. The business has a 50-day moving average of $252.74 and a 200 day moving average of $233.68. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping 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 business had revenue of $23.96 billion for the quarter, compared to analysts' expectations of $23.99 billion. During the same quarter in the prior year, the company earned $4.10 earnings per share. The business'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. Equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio (DPR) is currently 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.

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe's Companies, Inc. (NYSE:LOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.