Wedge Capital Management L L P NC Buys 1,138 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Wedge Capital Management L L P NC increased its holdings in Lowe's by 6.2% in Q2, now owning 19,413 shares valued at $4.3 million, reflecting significant institutional interest in the company.
• Lowe's reported $4.33 EPS for the last quarter, exceeding analysts' estimates, and had a revenue of $23.96 billion, showing a year-over-year increase of 1.6%.
• The company also announced a dividend cut, with a quarterly dividend of $0.012, leading to an annualized yield of 0.0% and indicating a cautious approach to shareholder returns.

Wedge Capital Management L L P NC grew its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 19,413 shares of the home improvement retailer's stock after buying an additional 1,138 shares during the period. Wedge Capital Management L L P NC's holdings in Lowe's Companies were worth $4,307,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Brighton Jones LLC raised its position 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 valued at $7,889,000 after buying an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC raised its position 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. Value Partners Investments Inc. raised its position in Lowe's Companies by 5.2% in the fourth quarter. Value Partners Investments Inc. now owns 11,916 shares of the home improvement retailer's stock worth $2,939,000 after acquiring an additional 591 shares during the period. Aurdan Capital Management LLC bought a new position in shares of Lowe's Companies during the 4th quarter valued at approximately $11,105,000. Finally, Putney Financial Group LLC purchased a new stake in Lowe's Companies in the fourth quarter worth $49,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lowe's Companies

In other news, EVP Joseph Michael Mcfarland sold 43,810 shares of the stock in a transaction 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 sale, the executive vice president owned 66,566 shares in the company, valued at approximately $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brandon J. Sink sold 8,192 shares of Lowe's Companies stock in a transaction that occurred on 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 sale, the executive vice president directly owned 21,603 shares in the company, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock valued at $24,945,752 in the last ninety days. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Thursday, August 21st. Robert W. Baird upped their target price on Lowe's Companies from $285.00 to $295.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. DA Davidson increased their price target on Lowe's Companies from $240.00 to $266.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Wolfe Research assumed coverage on Lowe's Companies in a research report on Wednesday, September 17th. They issued an "outperform" rating on the stock. Finally, Truist Financial upped their target price on shares of Lowe's Companies from $264.00 to $283.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Seventeen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $285.08.

Lowe's Companies Trading Down 1.6%

Shares of LOW traded down $4.34 during midday trading on Monday, hitting $260.86. 3,435,258 shares of the company's stock traded hands, compared to its average volume of 2,516,509. The stock has a market capitalization of $146.30 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 2.45 and a beta of 0.87. The firm's fifty day moving average is $248.40 and its 200-day moving average is $232.62. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year 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 EPS for the quarter, topping the consensus estimate of $4.24 by $0.09. The company had revenue of $23.96 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.10 EPS. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be issued a dividend of $0.012 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.0%. Lowe's Companies's payout ratio is 39.44%.

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.