Sigma Investment Counselors Inc. Purchases 1,819 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Sigma Investment Counselors Inc. increased its stake in Lowe's Companies by 5.8% during Q2, acquiring an additional 1,819 shares, bringing their total holdings to 33,004 shares valued at $7,323,000.
• Multiple analysts have raised their price targets for Lowe's, with KeyCorp setting a new target of $300.00, indicating strong market confidence in the stock's performance.
• Lowe's announced a quarterly dividend of $1.20 per share, constituting an annualized yield of 2.0%, demonstrating its commitment to returning value to shareholders.

Sigma Investment Counselors Inc. lifted its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 33,004 shares of the home improvement retailer's stock after purchasing an additional 1,819 shares during the quarter. Sigma Investment Counselors Inc.'s holdings in Lowe's Companies were worth $7,323,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LOW. Brighton Jones LLC grew its holdings in shares of Lowe's Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Lowe's Companies by 31.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after purchasing an additional 259 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Lowe's Companies by 15.3% in the 1st quarter. GAMMA Investing LLC now owns 7,106 shares of the home improvement retailer's stock worth $1,657,000 after purchasing an additional 944 shares during the last quarter. Segment Wealth Management LLC grew its holdings in shares of Lowe's Companies by 178.7% in the 1st quarter. Segment Wealth Management LLC now owns 4,364 shares of the home improvement retailer's stock worth $1,018,000 after purchasing an additional 2,798 shares during the last quarter. Finally, Advisor Resource Council bought a new stake in shares of Lowe's Companies in the 1st quarter worth about $419,000. Institutional investors own 74.06% of the company's stock.

Wall Street Analyst Weigh In

LOW has been the topic of a number of research analyst reports. Barclays set a $267.00 price objective on shares of Lowe's Companies in a report on Thursday, August 21st. KeyCorp increased their price objective on shares of Lowe's Companies from $266.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Robert W. Baird increased their price objective on shares of Lowe's Companies from $285.00 to $295.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Weiss Ratings reissued a "buy (b-)" rating on shares of Lowe's Companies in a report on Wednesday, October 8th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a report on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lowe's Companies currently has a consensus rating of "Moderate Buy" and a consensus target price of $282.91.

Lowe's Companies Trading Up 0.7%

Lowe's Companies stock opened at $244.81 on Friday. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $282.70. The company has a market cap of $137.30 billion, a PE ratio of 20.12, a PEG ratio of 2.27 and a beta of 0.88. The company's 50-day moving average is $255.21 and its two-hundred day moving average is $234.69.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. During the same period in the prior year, the company posted $4.10 EPS. The company'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 forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a $1.20 dividend. 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 dividend payout ratio (DPR) is currently 39.44%.

Insider Activity

In related news, CEO Marvin R. Ellison sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the sale, the chief executive officer directly owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their position. The sale 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 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 completion of the sale, the executive vice president owned 30,099 shares in the company, valued at $7,741,462.80. This represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,931 shares of company stock valued at $24,945,752. Insiders own 0.27% of the company's stock.

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.

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe's Companies, Inc. (NYSE:LOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.