Summit Financial LLC Has $3.19 Million Stake in Lowe's Companies, Inc. $LOW

Key Points

• Summit Financial LLC increased its stake in Lowe's Companies by 36.6% in the first quarter, holding shares worth $3.19 million at the end of the quarter.
• Lowe's reported an EPS of $4.33 for the last quarter, exceeding analysts' estimates by $0.09, with revenues of $23.96 billion.
• The firm recently increased its quarterly dividend to $1.20, up from $1.15, representing an annualized dividend yield of 1.9%.

Summit Financial LLC lifted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 36.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,671 shares of the home improvement retailer's stock after buying an additional 3,666 shares during the quarter. Summit Financial LLC's holdings in Lowe's Companies were worth $3,188,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. United Asset Strategies Inc. grew its holdings in Lowe's Companies by 4.2% during the first quarter. United Asset Strategies Inc. now owns 6,944 shares of the home improvement retailer's stock valued at $1,619,000 after purchasing an additional 283 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Lowe's Companies by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,779,120 shares of the home improvement retailer's stock valued at $881,406,000 after purchasing an additional 225,964 shares during the period. Martingale Asset Management L P grew its holdings in Lowe's Companies by 54.7% during the first quarter. Martingale Asset Management L P now owns 26,897 shares of the home improvement retailer's stock valued at $6,273,000 after purchasing an additional 9,511 shares during the period. Capital Analysts LLC grew its holdings in Lowe's Companies by 1.5% during the first quarter. Capital Analysts LLC now owns 23,097 shares of the home improvement retailer's stock valued at $5,387,000 after purchasing an additional 347 shares during the period. Finally, Level Four Advisory Services LLC grew its holdings in Lowe's Companies by 5.5% during the first quarter. Level Four Advisory Services LLC now owns 33,258 shares of the home improvement retailer's stock valued at $7,757,000 after purchasing an additional 1,744 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Down 0.5%

Shares of LOW stock opened at $255.8520 on Friday. The company's fifty day simple moving average is $229.15 and its 200-day simple moving average is $230.35. The firm has a market cap of $143.39 billion, a PE ratio of 21.02, a P/E/G ratio of 2.43 and a beta of 0.89. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01.

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. The business 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 firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, equities analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a $1.20 dividend. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, July 23rd. Lowe's Companies's payout ratio is presently 39.77%.

Insiders Place Their Bets

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president owned 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 249,043 shares in the company, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LOW. JPMorgan Chase & Co. boosted their price objective on shares of Lowe's Companies from $280.00 to $283.00 and gave the company an "overweight" rating in a report on Thursday. Truist Financial boosted their price objective on shares of Lowe's Companies from $264.00 to $283.00 and gave the company a "buy" rating in a report on Thursday. Royal Bank Of Canada boosted 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 report on Thursday. Barclays boosted their price objective on shares of Lowe's Companies from $245.00 to $277.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Stifel Nicolaus boosted their price objective on shares of Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a report on Monday. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $284.33.

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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