OLD National Bancorp IN Grows Stock Holdings in Lowe's Companies, Inc. $LOW

Key Points

• OLD National Bancorp IN increased its stake in Lowe's Companies by 12.5% during Q2, owning a total of 11,794 shares valued at approximately $2.6 million.
• Lowe's reported a quarterly earnings per share of $4.33, exceeding estimates, and had a revenue of $23.96 billion, up 1.6% year-over-year.
• The company announced a quarterly dividend of $1.20 per share, with an ex-dividend date set for October 22, and a payout ratio of 39.44%.

OLD National Bancorp IN lifted its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 12.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,794 shares of the home improvement retailer's stock after purchasing an additional 1,315 shares during the quarter. OLD National Bancorp IN's holdings in Lowe's Companies were worth $2,617,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LOW. Olistico Wealth LLC bought a new position in Lowe's Companies during the second quarter valued at approximately $33,000. Wealthcare Advisory Partners LLC grew its holdings in shares of Lowe's Companies by 5.3% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 8,779 shares of the home improvement retailer's stock valued at $1,948,000 after purchasing an additional 440 shares during the last quarter. Tandem Investment Partners LLC raised its position in Lowe's Companies by 16.9% in the 2nd quarter. Tandem Investment Partners LLC now owns 2,970 shares of the home improvement retailer's stock worth $659,000 after purchasing an additional 430 shares during the period. Boston Common Asset Management LLC lifted its stake in Lowe's Companies by 35.7% in the second quarter. Boston Common Asset Management LLC now owns 25,233 shares of the home improvement retailer's stock worth $5,598,000 after purchasing an additional 6,634 shares during the last quarter. Finally, 111 Capital purchased a new stake in Lowe's Companies during the second quarter valued at about $1,328,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe's Companies Trading Down 0.4%

Shares of LOW opened at $246.24 on Monday. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The firm's 50-day moving average price is $253.95 and its 200-day moving average price is $234.20. The firm has a market capitalization of $138.10 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.28 and a beta of 0.88.

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

Lowe's Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders 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 dividend yield of 1.9%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's payout ratio is 39.44%.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their target price on 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. DA Davidson boosted their price objective on Lowe's Companies from $240.00 to $266.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. KeyCorp increased their price objective on Lowe's Companies from $266.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. lifted their target price on shares of Lowe's Companies from $280.00 to $283.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Lowe's Companies in a research report on Saturday, September 27th. Seventeen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $285.50.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Brandon J. Sink sold 8,192 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the sale, the executive vice president owned 21,603 shares of the company's stock, valued at $5,802,133.74. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Juliette Williams Pryor sold 929 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total transaction of $238,938.80. Following the transaction, the executive vice president directly 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 disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock valued at $24,945,752 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

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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