Lowe's Companies, Inc. $LOW Shares Sold by Bartlett & CO. Wealth Management LLC

Key Points

• Bartlett & CO. Wealth Management LLC has reduced its stake in Lowe's Companies by 0.2%, now owning 531,684 shares, which accounts for 1.6% of its total holdings.
• Insider trading activity included significant sales by two executive vice presidents, with combined sales amounting to over $2.4 million in a recent period.
• Despite recent insider sales, analysts maintain a strong outlook on Lowe's stock, with a consensus rating of "Moderate Buy" and an average price target of $285.50.

Bartlett & CO. Wealth Management LLC trimmed its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 531,684 shares of the home improvement retailer's stock after selling 1,155 shares during the quarter. Lowe's Companies makes up 1.6% of Bartlett & CO. Wealth Management LLC's holdings, making the stock its 14th largest holding. Bartlett & CO. Wealth Management LLC owned about 0.09% of Lowe's Companies worth $117,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Forza Wealth Management LLC grew its holdings in shares of Lowe's Companies by 5.8% in the 2nd quarter. Forza Wealth Management LLC now owns 3,928 shares of the home improvement retailer's stock worth $872,000 after acquiring an additional 214 shares during the last quarter. PFG Investments LLC grew its holdings in shares of Lowe's Companies by 2.6% during the second quarter. PFG Investments LLC now owns 10,492 shares of the home improvement retailer's stock valued at $2,328,000 after buying an additional 267 shares in the last quarter. LBP AM SA grew its holdings in shares of Lowe's Companies by 6.2% during the second quarter. LBP AM SA now owns 14,597 shares of the home improvement retailer's stock valued at $3,239,000 after buying an additional 858 shares in the last quarter. Sicart Associates LLC purchased a new position in shares of Lowe's Companies during the second quarter valued at $1,040,000. Finally, Broadway Wealth Solutions Inc. grew its holdings in shares of Lowe's Companies by 4.0% during the second quarter. Broadway Wealth Solutions Inc. now owns 1,313 shares of the home improvement retailer's stock valued at $291,000 after buying an additional 51 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 929 shares of Lowe's Companies stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total transaction of $238,938.80. Following the sale, the executive vice president owned 30,099 shares of the company's stock, valued at approximately $7,741,462.80. The trade was a 2.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brandon J. Sink sold 8,192 shares of Lowe's Companies stock in a transaction dated 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 transaction, the executive vice president directly owned 21,603 shares of the company's stock, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on Lowe's Companies in a report on Wednesday, September 17th. They set an "outperform" rating on the stock. Mizuho lifted their price target on Lowe's Companies from $280.00 to $285.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a report on Thursday, August 21st. Truist Financial lifted their price target on Lowe's Companies from $264.00 to $283.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, Piper Sandler lifted their price objective on Lowe's Companies from $269.00 to $294.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $285.50.

Lowe's Companies Stock Performance

Lowe's Companies stock opened at $251.20 on Wednesday. The firm's fifty day moving average price is $252.74 and its 200-day moving average price is $233.68. The stock has a market cap of $140.88 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01.

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 earnings per share for the quarter, beating 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 firm had revenue of $23.96 billion for the quarter, compared to analysts' expectations of $23.99 billion. During the same quarter last year, the company posted $4.10 EPS. 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. On average, analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Announces Dividend

The company 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 dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio is 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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