Waycross Partners LLC Increases Position in Lowe's Companies, Inc. $LOW

Key Points

• Waycross Partners LLC has increased its stake in Lowe's Companies by 3.8%, owning a total of 107,192 shares valued at approximately $23.8 million, making it the 19th largest position in its portfolio.
• Several institutional investors have made significant changes to their positions in Lowe's, including an increase of 26.8% by Revisor Wealth Management and new purchases by Counterpoint Mutual Funds valued at $294,000.
• Analysts have boosted their target prices for Lowe's Companies, with estimates ranging from $266.00 to $295.00, indicating a consensus average target price of $284.00 and a predominant "Buy" rating.

Waycross Partners LLC grew its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,192 shares of the home improvement retailer's stock after acquiring an additional 3,937 shares during the quarter. Lowe's Companies comprises about 2.2% of Waycross Partners LLC's portfolio, making the stock its 19th biggest position. Waycross Partners LLC's holdings in Lowe's Companies were worth $23,783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Revisor Wealth Management LLC increased its holdings in shares of Lowe's Companies by 26.8% in the 2nd quarter. Revisor Wealth Management LLC now owns 4,297 shares of the home improvement retailer's stock valued at $979,000 after acquiring an additional 908 shares during the period. Cardinal Capital Management increased its holdings in shares of Lowe's Companies by 2.4% in the 2nd quarter. Cardinal Capital Management now owns 48,035 shares of the home improvement retailer's stock valued at $10,658,000 after acquiring an additional 1,103 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Lowe's Companies in the 2nd quarter valued at $294,000. Opal Wealth Advisors LLC increased its holdings in shares of Lowe's Companies by 4.5% in the 2nd quarter. Opal Wealth Advisors LLC now owns 2,806 shares of the home improvement retailer's stock valued at $623,000 after acquiring an additional 121 shares during the period. Finally, KFG Wealth Management LLC increased its holdings in shares of Lowe's Companies by 7.0% in the 2nd quarter. KFG Wealth Management LLC now owns 1,065 shares of the home improvement retailer's stock valued at $236,000 after acquiring an additional 70 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. DA Davidson boosted their target price on Lowe's Companies from $240.00 to $266.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Robert W. Baird boosted their target price on Lowe's Companies from $285.00 to $295.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Stifel Nicolaus boosted their target price on Lowe's Companies from $240.00 to $265.00 and gave the stock a "hold" rating in a research note on Monday, August 18th. Mizuho boosted their target price on Lowe's Companies from $280.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Barclays set a $267.00 target price on Lowe's Companies in a research note on Thursday, August 21st. Fifteen research 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. Based on data from MarketBeat, Lowe's Companies has an average rating of "Moderate Buy" and an average target price of $284.00.

Lowe's Companies Stock Performance

Lowe's Companies stock opened at $259.62 on Wednesday. The business's 50-day simple moving average is $249.29 and its two-hundred day simple moving average is $232.81. The company has a market cap of $145.60 billion, a PE ratio of 21.33, a PEG ratio of 2.41 and a beta of 0.87. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.09. The business had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. Lowe's Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.10 EPS. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, analysts predict 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. Shareholders of record on Wednesday, October 22nd will be paid 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 payout ratio is presently 39.44%.

Insider Transactions at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 929 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the completion of the transaction, the executive vice president owned 30,099 shares of the company's stock, valued at $7,741,462.80. The trade was a 2.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Brandon J. Sink sold 8,192 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the transaction, the executive vice president directly owned 21,603 shares of the company's stock, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,931 shares of company stock worth $24,945,752 in the last 90 days. 0.27% of the stock is owned by company insiders.

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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