Lowe's Companies, Inc. $LOW Shares Sold by Golden State Equity Partners

Key Points

• Golden State Equity Partners reduced its stake in Lowe's Companies by 29%, selling 1,807 shares, and now holds shares worth approximately $981,000.
• Lowe's reported a quarterly earnings per share of $4.33, surpassing estimates, while revenues were slightly below expectations at $23.96 billion.
• The company has announced a quarterly dividend of $0.012, which represents an annualized yield of 0.0% and comes with a dividend payout ratio of 39.44%.

Golden State Equity Partners cut its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 29.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,420 shares of the home improvement retailer's stock after selling 1,807 shares during the quarter. Golden State Equity Partners' holdings in Lowe's Companies were worth $981,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. KFG Wealth Management LLC lifted its holdings in Lowe's Companies by 7.0% in the second quarter. KFG Wealth Management LLC now owns 1,065 shares of the home improvement retailer's stock valued at $236,000 after acquiring an additional 70 shares during the period. Chapin Davis Inc. lifted its holdings in Lowe's Companies by 32.0% in the second quarter. Chapin Davis Inc. now owns 3,340 shares of the home improvement retailer's stock valued at $741,000 after acquiring an additional 810 shares during the period. GAMMA Investing LLC lifted its holdings in Lowe's Companies by 21.3% in the second quarter. GAMMA Investing LLC now owns 8,620 shares of the home improvement retailer's stock valued at $1,913,000 after acquiring an additional 1,514 shares during the period. Proathlete Wealth Management LLC lifted its holdings in Lowe's Companies by 2.6% in the second quarter. Proathlete Wealth Management LLC now owns 3,099 shares of the home improvement retailer's stock valued at $690,000 after acquiring an additional 79 shares during the period. Finally, Ridgewood Investments LLC lifted its holdings in Lowe's Companies by 97.2% in the second quarter. Ridgewood Investments LLC now owns 4,655 shares of the home improvement retailer's stock valued at $1,033,000 after acquiring an additional 2,295 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe's Companies Stock Down 1.6%

Shares of NYSE:LOW opened at $260.86 on Tuesday. The business has a fifty day moving average of $248.40 and a two-hundred day moving average of $232.62. The stock has a market cap of $146.30 billion, a P/E ratio of 21.43, a PEG ratio of 2.45 and a beta of 0.87. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.09. The company 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 firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $4.10 EPS. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, equities analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Cuts Dividend

The business 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 $0.012 dividend. 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 currently 39.44%.

Insiders Place Their Bets

In other news, EVP Joseph Michael Mcfarland sold 43,810 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 66,566 shares in the company, valued at approximately $18,145,891.60. This represents a 39.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total value of $238,938.80. Following the completion of the transaction, the executive vice president owned 30,099 shares in the company, valued at approximately $7,741,462.80. The trade was a 2.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,931 shares of company stock worth $24,945,752. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LOW shares. Mizuho boosted 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. Truist Financial boosted 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. Sanford C. Bernstein upped their target price on Lowe's Companies from $266.00 to $279.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Citigroup reduced their target price 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. Finally, UBS Group upped their target price 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. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $284.88.

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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