Sanders Morris Harris LLC Decreases Stock Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Sanders Morris Harris LLC significantly reduced its stake in Lowe's Companies, Inc. by 73.4% during the 2nd quarter, ending with 2,200 shares valued at $488,000 after selling 6,067 shares.
• Lowe's reported a net revenue of $23.96 billion for the quarter, slightly below analyst estimates, while EPS was $4.33, exceeding expectations by $0.09.
• The company declared a quarterly dividend of $1.20 per share, with a yield of 2.0%, to be paid on November 5th to stockholders of record by October 22nd.

Sanders Morris Harris LLC reduced its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 73.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,200 shares of the home improvement retailer's stock after selling 6,067 shares during the period. Sanders Morris Harris LLC's holdings in Lowe's Companies were worth $488,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LOW. Fairway Wealth LLC purchased a new stake in shares of Lowe's Companies during the 1st quarter worth $32,000. Olistico Wealth LLC purchased a new stake in Lowe's Companies in the second quarter valued at $33,000. TruNorth Capital Management LLC purchased a new stake in Lowe's Companies in the first quarter valued at $38,000. JNBA Financial Advisors lifted its position in Lowe's Companies by 147.1% in the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer's stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Finally, Vista Cima Wealth Management LLC purchased a new stake in Lowe's Companies in the first quarter valued at $44,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe's Companies Stock Performance

NYSE LOW opened at $242.50 on Tuesday. The firm has a market cap of $136.00 billion, a PE ratio of 19.93, a P/E/G ratio of 2.27 and a beta of 0.88. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $282.70. The firm's fifty day moving average is $255.26 and its two-hundred day moving average is $234.91.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.09. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same period in the previous year, the business posted $4.10 earnings per share. The business's 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. Research analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Announces Dividend

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 paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's payout ratio is 39.44%.

Insider Activity

In other news, EVP Joseph Michael Mcfarland sold 43,810 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the transaction, the executive vice president directly owned 66,566 shares in the company, valued at $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marvin R. Ellison sold 40,000 shares of the business's 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 transaction, the chief executive officer owned 249,043 shares in the company, 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 valued at $24,945,752. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

LOW has been the subject of a number of research reports. Mizuho boosted their price target on shares of Lowe's Companies from $280.00 to $285.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Truist Financial boosted 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 report on Thursday, August 21st. JPMorgan Chase & Co. boosted their price target on shares of Lowe's Companies from $280.00 to $283.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Royal Bank Of Canada lifted 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. Finally, Oppenheimer lifted 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. Sixteen investment 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. According to MarketBeat, Lowe's Companies has an average rating of "Moderate Buy" and an average target price of $282.91.

Lowe's Companies 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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