Patton Fund Management Inc. Makes New Investment in Lowe's Companies, Inc. $LOW

Key Points

• Patton Fund Management Inc. purchased 997 shares of Lowe's Companies, valued at approximately $221,000, indicating institutional interest in the company.
• Lowe's CEO Marvin R. Ellison recently sold 40,000 shares worth $10,564,000, while EVP Joseph Michael McFarland sold 43,810 shares for $11,942,606, reflecting significant insider selling.
• The company announced a quarterly dividend of $1.20 per share, translating to a 1.9% dividend yield, with an upcoming payment date on November 5th.

Patton Fund Management Inc. purchased a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 997 shares of the home improvement retailer's stock, valued at approximately $221,000.

Other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC acquired a new position in shares of Lowe's Companies during the first quarter worth approximately $32,000. Inlight Wealth Management LLC purchased a new stake in Lowe's Companies in the 1st quarter valued at $36,000. IFS Advisors LLC raised its position in Lowe's Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 60 shares during the last quarter. TruNorth Capital Management LLC purchased a new stake in Lowe's Companies in the 1st quarter valued at $38,000. Finally, JNBA Financial Advisors raised its position in Lowe's Companies by 147.1% in 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 during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lowe's Companies news, CEO Marvin R. Ellison sold 40,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total value of $10,564,000.00. Following the sale, the chief executive officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 66,566 shares in the company, valued at $18,145,891.60. This represents a 39.69% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,931 shares of company stock worth $24,945,752. Insiders own 0.27% of the company's stock.

Lowe's Companies Stock Down 1.5%

LOW stock opened at $253.35 on Tuesday. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The business has a fifty day moving average of $252.25 and a 200-day moving average of $233.55. The company has a market cap of $142.09 billion, a P/E ratio of 20.82, a PEG ratio of 2.38 and a beta of 0.87.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data 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. 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 during the quarter, compared to analysts' expectations of $23.99 billion. During the same period in the previous year, the firm earned $4.10 earnings per share. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Dividend Announcement

The company 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. 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

A number of equities research analysts recently commented on LOW shares. Oppenheimer increased their price target on Lowe's Companies from $305.00 to $320.00 and gave the company an "outperform" rating in a research report on Thursday, September 25th. KeyCorp increased their price target on Lowe's Companies from $266.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Guggenheim reissued a "buy" rating and issued a $300.00 price target on shares of Lowe's Companies in a research report on Thursday, August 21st. Sanford C. Bernstein increased their price target on Lowe's Companies from $266.00 to $279.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Finally, Gordon Haskett raised Lowe's Companies to a "hold" rating in a research report on Wednesday, August 13th. Sixteen 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's stock. Based on data from MarketBeat.com, Lowe's Companies presently has an average rating of "Moderate Buy" and an average target price of $285.50.

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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