Lowe's Companies, Inc. $LOW Shares Sold by Confluence Investment Management LLC

Key Points

• Confluence Investment Management LLC reduced its stake in Lowe's by 0.6%, holding 227,133 shares valued at approximately $50.39 million after selling 1,314 shares.
• Several analysts have raised their price targets for Lowe's, with UBS Group now at $325.00 and Truist Financial at $283.00, indicating a positive outlook amidst a consensus average target price of $284.13.
• Insiders have sold substantial amounts of Lowe's stock, including EVP Joseph Michael Mcfarland and CEO Marvin R. Ellison, indicating a 39.69% and 13.84% decrease in their ownership, respectively.

Confluence Investment Management LLC decreased its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 227,133 shares of the home improvement retailer's stock after selling 1,314 shares during the quarter. Confluence Investment Management LLC's holdings in Lowe's Companies were worth $50,394,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Park National Corp OH increased its stake in Lowe's Companies by 1.4% during the 2nd quarter. Park National Corp OH now owns 6,128 shares of the home improvement retailer's stock worth $1,360,000 after buying an additional 85 shares in the last quarter. Private Client Services LLC increased its stake in Lowe's Companies by 7.3% during the 2nd quarter. Private Client Services LLC now owns 929 shares of the home improvement retailer's stock worth $206,000 after buying an additional 63 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs purchased a new stake in Lowe's Companies during the 1st quarter worth approximately $4,755,000. eCIO Inc. purchased a new stake in Lowe's Companies during the 1st quarter worth approximately $315,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in Lowe's Companies by 41.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 224 shares of the home improvement retailer's stock worth $52,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LOW. Truist Financial boosted 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. Barclays set a $267.00 price objective on Lowe's Companies in a research note on Thursday, August 21st. DA Davidson boosted 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. UBS Group boosted their price objective on Lowe's Companies from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Finally, Citigroup cut their price objective on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $284.13.

Insiders Place Their Bets

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total value of $11,942,606.00. Following the completion of the transaction, the executive vice president directly owned 66,566 shares in the company, valued at approximately $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marvin R. Ellison sold 40,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer 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. Over the last ninety days, insiders have sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is currently owned by insiders.

Lowe's Companies Price Performance

LOW stock opened at $271.89 on Friday. The business has a 50 day simple moving average of $243.26 and a 200-day simple moving average of $231.83. The firm has a market capitalization of $152.48 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 2.52 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.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. Lowe's Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, equities research analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Cuts Dividend

The firm 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 $0.012 dividend. This represents a $0.05 annualized dividend and a yield of 0.0%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio is presently 39.44%.

Lowe's Companies Company 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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