Lowe's Companies, Inc. $LOW Shares Sold by Legacy Private Trust Co.

Key Points

• Legacy Private Trust Co. reduced its holdings in Lowe's Companies, Inc. by 3.8%, owning 28,584 shares valued at approximately $6.34 million as of the latest SEC filing.
• Institutional investors collectively own 74.06% of Lowe's stock, with several hedge funds significantly increasing their stakes in the first quarter of 2023.
• Analysts have a consensus rating of "Moderate Buy" for Lowe's stock, with an average price target of $284.13, reflecting confidence in its future performance.

Legacy Private Trust Co. lessened its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,584 shares of the home improvement retailer's stock after selling 1,135 shares during the quarter. Legacy Private Trust Co.'s holdings in Lowe's Companies were worth $6,342,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LOW. Nuveen LLC purchased a new stake in Lowe's Companies during the 1st quarter worth approximately $681,215,000. Pacer Advisors Inc. grew its holdings in shares of Lowe's Companies by 2,984.6% during the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer's stock valued at $475,339,000 after buying an additional 1,971,996 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Lowe's Companies by 26,796.0% in the 1st quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer's stock valued at $386,540,000 after acquiring an additional 1,651,170 shares during the period. Assenagon Asset Management S.A. raised its stake in Lowe's Companies by 1,048.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer's stock worth $172,527,000 after acquiring an additional 675,318 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Lowe's Companies in the 4th quarter worth $159,029,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analyst Weigh In

LOW has been the topic of several research analyst reports. KeyCorp boosted their price target on Lowe's Companies from $266.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Gordon Haskett upgraded Lowe's Companies to a "hold" rating in a research report on Wednesday, August 13th. Piper Sandler raised their price target on shares of Lowe's Companies from $269.00 to $294.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Guggenheim restated a "buy" rating and set a $300.00 price objective on shares of Lowe's Companies in a research note on Thursday, August 21st. Finally, Stifel Nicolaus upped their price objective on shares of Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 18th. Sixteen 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $284.13.

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 21,603 shares of the company's stock, valued at $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the business's 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 sale, the executive vice president owned 66,566 shares of the company's stock, valued at $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock worth $24,945,752 over the last three months. 0.27% of the stock is owned by insiders.

Lowe's Companies Stock Performance

Lowe's Companies stock opened at $271.89 on Monday. The stock has a market capitalization of $152.48 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.52 and a beta of 0.87. The company's fifty day moving average price is $243.26 and its 200 day moving average price is $231.63. 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 posted its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $23.96 billion during the quarter, compared to analysts' expectations of $23.99 billion. During the same period in the prior year, the business posted $4.10 earnings per share. The firm's revenue for the quarter 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. 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. Shareholders of record on Wednesday, October 22nd will be paid a dividend of $0.012 per share. 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 payout ratio is 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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