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

Key Points

• Voya Investment Management LLC reduced its stake in Lowe's by 1.7%, maintaining ownership of around 842,530 shares valued at approximately $196 million.
• Lowe's reported a $4.33 EPS for the latest quarter, exceeding expectations, with a year-over-year revenue increase of 1.6%.
• Company insiders sold a total of 49,121 shares in the last quarter, reflecting significant decreases in their ownership positions.

Voya Investment Management LLC lessened its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 842,530 shares of the home improvement retailer's stock after selling 14,622 shares during the quarter. Voya Investment Management LLC owned about 0.15% of Lowe's Companies worth $196,182,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in shares of Lowe's Companies by 1.2% during 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 acquiring an additional 1,470 shares during the period. Larson Financial Group LLC grew its position in 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 purchasing an additional 1,242 shares in the last quarter. Advent Capital Management DE boosted its stake 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 during the period. Cornerstone Wealth Group LLC boosted its stake 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 during the period. Finally, Community Trust & Investment Co. boosted its stake in shares of Lowe's Companies by 2.3% during the 1st quarter. Community Trust & Investment Co. now owns 55,502 shares of the home improvement retailer's stock valued at $12,945,000 after buying an additional 1,251 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Insider Buying and Selling

In related news, CEO Marvin R. Ellison sold 40,000 shares of Lowe's Companies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the transaction, the chief executive officer owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brandon J. Sink sold 8,192 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 21,603 shares in the company, valued at approximately $5,802,133.74. The trade was a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,121 shares of company stock worth $13,003,146 in the last quarter. 0.27% of the stock is currently owned by company insiders.

Lowe's Companies Price Performance

Shares of LOW opened at $272.56 on Friday. The company has a market capitalization of $152.86 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 2.47 and a beta of 0.87. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01. The company's fifty day moving average price is $242.38 and its 200 day moving average price is $231.63.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, topping the consensus estimate of $4.24 by $0.09. The firm had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.10 EPS. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be issued 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 (DPR) is 39.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Stifel Nicolaus lifted their price objective on shares of Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a research note on Monday, August 18th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research note on Thursday, August 21st. JPMorgan Chase & Co. lifted their price objective on shares of Lowe's Companies from $280.00 to $283.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of Lowe's Companies from $243.00 to $260.00 and gave the company a "sector perform" rating in a research note on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and a consensus price target of $284.13.

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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