Triangle Securities Wealth Management Lowers Stock Position in Lowe's Companies, Inc. $LOW

Key Points

• Triangle Securities Wealth Management reduced its stake in Lowe's Companies by 14.2% in Q2, holding approximately $4.55 million worth of shares, making it the firm's 26th largest holding.
• Several hedge funds increased their positions in Lowe's during the same quarter, contributing to institutional investors owning 74.06% of the company's stock.
• Lowe's announced a quarterly dividend of $0.012, reflecting a 0.0% annualized yield, as part of their financial strategy moving forward.

Triangle Securities Wealth Management trimmed its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 14.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,505 shares of the home improvement retailer's stock after selling 3,402 shares during the period. Lowe's Companies comprises approximately 1.1% of Triangle Securities Wealth Management's portfolio, making the stock its 26th largest position. Triangle Securities Wealth Management's holdings in Lowe's Companies were worth $4,549,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LOW. Brighton Jones LLC boosted its holdings in shares of Lowe's Companies by 119.7% during the fourth 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 period. Revolve Wealth Partners LLC raised its stake in Lowe's Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after buying an additional 259 shares in the last quarter. State of Wyoming raised its stake in Lowe's Companies by 677.1% in the fourth quarter. State of Wyoming now owns 1,088 shares of the home improvement retailer's stock worth $269,000 after buying an additional 948 shares in the last quarter. Two Sigma Advisers LP raised its stake in Lowe's Companies by 24.7% in the fourth quarter. Two Sigma Advisers LP now owns 42,900 shares of the home improvement retailer's stock worth $10,588,000 after buying an additional 8,500 shares in the last quarter. Finally, Woodline Partners LP bought a new position in Lowe's Companies in the fourth quarter worth about $8,408,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the company'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 approximately $18,145,891.60. This represents a 39.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total transaction of $238,938.80. Following the completion of the transaction, 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. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of analyst reports. DA Davidson raised their target price on shares of Lowe's Companies from $240.00 to $266.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research note on Thursday, August 21st. Gordon Haskett raised shares of Lowe's Companies to a "hold" rating in a research note on Wednesday, August 13th. Citigroup decreased their target price on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Finally, Wolfe Research initiated coverage on shares of Lowe's Companies in a report on Wednesday. They issued an "outperform" rating for the company. Seventeen 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. According to MarketBeat, Lowe's Companies presently has an average rating of "Moderate Buy" and a consensus target price of $285.08.

Lowe's Companies Price Performance

Shares of Lowe's Companies stock traded down $4.34 during trading hours on Monday, reaching $260.86. The company's stock had a trading volume of 2,928,961 shares, compared to its average volume of 2,712,571. The stock has a market cap of $146.30 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.45 and a beta of 0.87. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01. The firm has a 50 day moving average price of $247.63 and a 200-day moving average price of $232.50.

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 EPS for the quarter, beating the consensus estimate of $4.24 by $0.09. The company had revenue of $23.96 billion for the quarter, compared to the consensus estimate 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 was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.10 EPS. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, sell-side analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Cuts Dividend

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 issued a dividend of $0.012 per share. This represents a $0.05 annualized dividend and a yield of 0.0%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio is presently 39.44%.

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.