Lowe's Companies, Inc. $LOW Stock Position Raised by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Lowe's by 16.9%, owning a total of 68,083 shares worth approximately $15.2 million as per its latest SEC filing.
• EVP Brandon J. Sink and CEO Marvin R. Ellison sold significant shares, resulting in a 27.49% and 13.84% decrease in their respective ownerships.
• Brokerages have raised their price targets for Lowe's, with the consensus price target now at $282.91 and a rating of "Moderate Buy" from analysts.

Ethic Inc. grew its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 16.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,083 shares of the home improvement retailer's stock after buying an additional 9,826 shares during the period. Ethic Inc.'s holdings in Lowe's Companies were worth $15,225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in shares of Lowe's Companies in the first quarter worth $32,000. Olistico Wealth LLC acquired a new position in Lowe's Companies during the second quarter worth $33,000. TruNorth Capital Management LLC acquired a new stake in shares of Lowe's Companies in the 1st quarter valued at $38,000. JNBA Financial Advisors increased its holdings in shares of Lowe's Companies by 147.1% during the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer's stock worth $39,000 after buying an additional 100 shares in the last quarter. Finally, Vista Cima Wealth Management LLC acquired a new position in shares of Lowe's Companies in the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Insider Activity

In related news, EVP Brandon J. Sink sold 8,192 shares of Lowe's Companies 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 completion of the transaction, the executive vice president owned 21,603 shares in the company, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 249,043 shares of the company's stock, valued at approximately $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 three months, insiders sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LOW. Telsey Advisory Group restated an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research note on Thursday, August 21st. Stifel Nicolaus increased their price target 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. DA Davidson lifted their target price on Lowe's Companies from $240.00 to $266.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Gordon Haskett raised Lowe's Companies to a "hold" rating in a research note on Wednesday, August 13th. Finally, Truist Financial increased their price target on shares of Lowe's Companies from $264.00 to $283.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $282.91.

Lowe's Companies Price Performance

LOW opened at $243.70 on Wednesday. The business's 50-day moving average price is $255.27 and its two-hundred day moving average price is $234.99. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $280.64. The company has a market capitalization of $136.67 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 2.24 and a beta of 0.88.

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

Lowe's Companies Announces 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 dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's payout ratio is presently 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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