Notis McConarty Edward Reduces Stake in Lowe's Companies, Inc. $LOW

Key Points

• Notis McConarty Edward decreased its stake in Lowe's Companies, Inc. by 15.2%, now holding 6,140 shares valued at approximately $1.36 million.
• Lowe's reported better-than-expected quarterly earnings with an EPS of $4.33, and revenue of $23.96 billion, marking a 1.6% increase compared to the previous year.
• The company has declared a quarterly dividend of $1.20 per share, with a dividend yield of 2.0% and a payout ratio of 39.44%.

Notis McConarty Edward trimmed its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 15.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,140 shares of the home improvement retailer's stock after selling 1,100 shares during the quarter. Notis McConarty Edward's holdings in Lowe's Companies were worth $1,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new position in Lowe's Companies in the first quarter valued at about $32,000. Olistico Wealth LLC purchased a new stake in shares of Lowe's Companies during the 2nd quarter valued at approximately $33,000. Inlight Wealth Management LLC purchased a new stake in shares of Lowe's Companies during the 1st quarter valued at approximately $36,000. TruNorth Capital Management LLC purchased a new stake in shares of Lowe's Companies during the 1st quarter valued at approximately $38,000. Finally, JNBA Financial Advisors lifted its stake in shares of Lowe's Companies by 147.1% during the 1st quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer's stock valued at $39,000 after buying an additional 100 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe's Companies Price Performance

Shares of NYSE:LOW opened at $237.62 on Thursday. The company's fifty day moving average price is $254.58 and its 200-day moving average price is $234.36. The firm has a market capitalization of $133.26 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.22 and a beta of 0.88. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01.

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, topping analysts' consensus estimates of $4.24 by $0.09. The firm had revenue of $23.96 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.10 EPS. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, equities research analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. Lowe's Companies's dividend payout ratio is presently 39.44%.

Insider Activity at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total value of $238,938.80. Following the transaction, the executive vice president owned 30,099 shares of the company's stock, valued at $7,741,462.80. This represents a 2.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction 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 directly owned 21,603 shares in the company, valued at $5,802,133.74. The trade was a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock worth $24,945,752 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stifel Nicolaus upped 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. Robert W. Baird upped their price target 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. Gordon Haskett upgraded shares of Lowe's Companies to a "hold" rating in a research note on Wednesday, August 13th. Sanford C. Bernstein upped their price target on shares of Lowe's Companies from $266.00 to $279.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Finally, Truist Financial upped 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 note on Thursday, August 21st. Sixteen equities 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $283.13.

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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