Merit Financial Group LLC Purchases 7,282 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Merit Financial Group LLC increased its holdings in Lowe's Companies, Inc. by 27.1% in the second quarter, acquiring an additional 7,282 shares, raising their total to 34,155 shares worth approximately $7.58 million.
• Multiple institutional investors, including Vertex Planning Partners and Quadcap Wealth Management, have also increased their stakes in Lowe's Companies, which currently has 74.06% of its stock owned by institutional investors.
• Analysts have raised their price targets for Lowe's Companies, with Wells Fargo increasing it from $260 to $300, resulting in an average target price of $285.50 and an overall rating of "Moderate Buy."

Merit Financial Group LLC grew its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 27.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,155 shares of the home improvement retailer's stock after acquiring an additional 7,282 shares during the period. Merit Financial Group LLC's holdings in Lowe's Companies were worth $7,578,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vertex Planning Partners LLC raised its stake in shares of Lowe's Companies by 2.9% in the first quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer's stock valued at $369,000 after acquiring an additional 44 shares during the last quarter. Quadcap Wealth Management LLC increased its holdings in shares of Lowe's Companies by 0.5% in the first quarter. Quadcap Wealth Management LLC now owns 9,386 shares of the home improvement retailer's stock valued at $2,189,000 after purchasing an additional 46 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Lowe's Companies by 0.8% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock valued at $1,357,000 after purchasing an additional 47 shares in the last quarter. Fielder Capital Group LLC increased its holdings in shares of Lowe's Companies by 5.9% in the first quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock valued at $202,000 after purchasing an additional 48 shares in the last quarter. Finally, Zullo Investment Group Inc. increased its holdings in shares of Lowe's Companies by 1.1% in the first quarter. Zullo Investment Group Inc. now owns 4,542 shares of the home improvement retailer's stock valued at $1,059,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Lowe's Companies from $260.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. raised their price target on shares of Lowe's Companies from $280.00 to $283.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Wolfe Research assumed coverage on shares of Lowe's Companies in a report on Wednesday, September 17th. They issued an "outperform" rating for the company. Gordon Haskett raised shares of Lowe's Companies to a "hold" rating in a report on Wednesday, August 13th. Finally, DA Davidson lifted their target price on shares of Lowe's Companies from $240.00 to $266.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Seventeen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $285.50.

Insider Activity at Lowe's Companies

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value of $11,942,606.00. Following the sale, the executive vice president directly owned 66,566 shares of the company's stock, valued at approximately $18,145,891.60. The trade was a 39.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the sale, the chief executive officer directly owned 249,043 shares in the company, valued at $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is owned by insiders.

Lowe's Companies Stock Down 0.4%

Shares of NYSE LOW opened at $246.24 on Monday. The company's fifty day moving average is $253.95 and its 200-day moving average is $234.20. The stock has a market cap of $138.10 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 2.28 and a beta of 0.88. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $23.96 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The business 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 $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe's Companies's payout ratio is currently 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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