NBT Bank N A NY Lowers Stake in Lowe's Companies, Inc. $LOW

Key Points

• NBT Bank N A NY reduced its stake in Lowe's Companies, Inc. by 1.5%, owning 95,806 shares worth approximately $21.26 million, making it the bank's 11th largest holding.
• Analysts have raised price targets for Lowe's, with Oppenheimer estimating a target of $320 and KeyCorp at $300, reflecting an average target price of around $283.83.
• Lowe's announced a quarterly dividend of $1.20 per share, with an annualized yield of 2.0%, and set its FY 2025 guidance at 12.200-12.450 EPS.

NBT Bank N A NY lessened its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 95,806 shares of the home improvement retailer's stock after selling 1,456 shares during the period. Lowe's Companies makes up 1.5% of NBT Bank N A NY's investment portfolio, making the stock its 11th largest holding. NBT Bank N A NY's holdings in Lowe's Companies were worth $21,256,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LOW. Nuveen LLC acquired a new stake in shares of Lowe's Companies in the 1st quarter worth $681,215,000. Pacer Advisors Inc. lifted its stake in shares of Lowe's Companies by 2,984.6% in the 1st quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer's stock worth $475,339,000 after acquiring an additional 1,971,996 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of 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 period. Wellington Management Group LLP lifted its stake in shares of Lowe's Companies by 49.0% in the 1st quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer's stock worth $438,751,000 after acquiring an additional 618,775 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Lowe's Companies by 10.6% in the 1st quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock worth $1,214,448,000 after acquiring an additional 501,154 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on LOW. Royal Bank Of Canada raised 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. KeyCorp raised their price objective on shares of Lowe's Companies from $266.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Wolfe Research began coverage on shares of Lowe's Companies in a research note on Wednesday, September 17th. They issued an "outperform" rating for the company. Oppenheimer raised their price objective on shares of Lowe's Companies from $305.00 to $320.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. Finally, Wells Fargo & Company raised their price objective on shares of Lowe's Companies from $260.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Seventeen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lowe's Companies presently has an average rating of "Moderate Buy" and an average target price of $283.83.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 929 shares of Lowe's Companies stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total transaction of $238,938.80. Following the completion of the sale, the executive vice president directly owned 30,099 shares in the company, valued at $7,741,462.80. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of Lowe's Companies stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the sale, the chief executive officer owned 249,043 shares of the company's stock, valued at approximately $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,931 shares of company stock worth $24,945,752. 0.27% of the stock is currently owned by insiders.

Lowe's Companies Trading Down 0.9%

Shares of LOW opened at $239.58 on Wednesday. The stock has a market cap of $134.36 billion, a P/E ratio of 19.69, a PEG ratio of 2.24 and a beta of 0.88. The company has a 50-day moving average of $254.37 and a two-hundred day moving average of $234.34. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 8.20% and a negative return on equity of 52.02%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. Lowe's Companies's payout ratio is presently 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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