Truist Financial Corp Has $116.67 Million Position in Lowe's Companies, Inc. $LOW

Key Points

• Truist Financial Corp has reduced its holdings in Lowe's Companies by 1.0%, owning 525,828 shares valued at approximately $116.67 million as of the latest SEC filing.
• Lowe's Companies reported $4.33 EPS for the quarter, surpassing expectations, while quarterly revenue was $23.96 billion, slightly below forecasts.
• The company announced a quarterly dividend of $1.20 per share, representing a yield of 1.9% and a payout ratio of 39.44%.

Truist Financial Corp lessened its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 525,828 shares of the home improvement retailer's stock after selling 5,466 shares during the quarter. Truist Financial Corp owned 0.09% of Lowe's Companies worth $116,665,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC lifted its position in shares of Lowe's Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after buying an additional 17,413 shares during the period. Revolve Wealth Partners LLC raised its stake in Lowe's Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after acquiring an additional 259 shares in the last quarter. Merit Financial Group LLC lifted its holdings in shares of Lowe's Companies by 39.3% during the first quarter. Merit Financial Group LLC now owns 26,873 shares of the home improvement retailer's stock valued at $6,268,000 after acquiring an additional 7,580 shares during the period. RFG Advisory LLC boosted its stake in shares of Lowe's Companies by 1.4% in the 1st quarter. RFG Advisory LLC now owns 9,929 shares of the home improvement retailer's stock valued at $2,316,000 after purchasing an additional 140 shares in the last quarter. Finally, Smith Anglin Financial LLC boosted its holdings in shares of Lowe's Companies by 4.3% in the 1st quarter. Smith Anglin Financial LLC now owns 1,475 shares of the home improvement retailer's stock worth $344,000 after acquiring an additional 61 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe's Companies Trading Down 1.3%

LOW stock opened at $248.12 on Thursday. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The firm has a market cap of $139.16 billion, a PE ratio of 20.39, a P/E/G ratio of 2.33 and a beta of 0.88. The business's 50-day moving average price is $253.13 and its two-hundred day moving average price is $233.78.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $23.99 billion. During the same period in the previous year, the firm earned $4.10 EPS. Lowe's Companies'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. On average, analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe's Companies's payout ratio is currently 39.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LOW shares. 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. Oppenheimer lifted their price target on shares of Lowe's Companies from $305.00 to $320.00 and gave the stock an "outperform" rating in a research report on Thursday, September 25th. Piper Sandler increased their price objective on shares of Lowe's Companies from $269.00 to $294.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Guggenheim reaffirmed a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a report on Thursday, August 21st. Finally, UBS Group increased their price target on Lowe's Companies from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average target price of $285.50.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, EVP Joseph Michael Mcfarland sold 43,810 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the transaction, the executive vice president owned 66,566 shares of the company's stock, valued at $18,145,891.60. The trade was a 39.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marvin R. Ellison sold 40,000 shares of the company'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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock valued at $24,945,752 in the last quarter. 0.27% of the stock is currently owned by company insiders.

Lowe's Companies Company 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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