Whitener Capital Management Inc. Has $3.93 Million Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Whitener Capital Management Inc. increased its holdings in Lowe's Companies by 12.8% in Q2, valuing the investment at nearly $3.93 million.
• Recent analyst ratings have generally been positive, with 17 analysts$285.08.
• Lowe's announced a new quarterly dividend of $0.012 to be paid on November 5th, which represents a minimal annualized yield of 0.0%.

Whitener Capital Management Inc. lifted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 12.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,714 shares of the home improvement retailer's stock after purchasing an additional 2,013 shares during the period. Lowe's Companies accounts for 1.0% of Whitener Capital Management Inc.'s holdings, making the stock its 23rd biggest holding. Whitener Capital Management Inc.'s holdings in Lowe's Companies were worth $3,930,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Palacios Wealth Management LLC lifted its holdings in Lowe's Companies by 15.8% during the 2nd quarter. Palacios Wealth Management LLC now owns 1,585 shares of the home improvement retailer's stock worth $352,000 after buying an additional 216 shares during the period. Sowell Financial Services LLC lifted its stake in shares of Lowe's Companies by 2.8% in the second quarter. Sowell Financial Services LLC now owns 9,631 shares of the home improvement retailer's stock worth $2,137,000 after acquiring an additional 259 shares during the period. Arthur M. Cohen & Associates LLC lifted its stake in shares of Lowe's Companies by 26.4% in the second quarter. Arthur M. Cohen & Associates LLC now owns 1,198 shares of the home improvement retailer's stock worth $266,000 after acquiring an additional 250 shares during the period. BTC Capital Management Inc. lifted its stake in shares of Lowe's Companies by 7.4% in the second quarter. BTC Capital Management Inc. now owns 33,100 shares of the home improvement retailer's stock worth $7,344,000 after acquiring an additional 2,267 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Lowe's Companies by 17.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 15,028 shares of the home improvement retailer's stock worth $3,334,000 after purchasing an additional 2,220 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on LOW shares. DA Davidson boosted their target price on shares of Lowe's Companies from $240.00 to $266.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. upped their target price on shares of Lowe's Companies from $280.00 to $283.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Stifel Nicolaus increased their target price on shares of Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 18th. 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 report on Thursday, August 21st. Finally, Robert W. Baird increased their price target on Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Seventeen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lowe's Companies presently has a consensus rating of "Moderate Buy" and a consensus target price of $285.08.

Lowe's Companies Price Performance

LOW opened at $265.68 on Friday. The company has a fifty day moving average price of $247.63 and a 200-day moving average price of $232.57. The firm has a market capitalization of $149.00 billion, a P/E ratio of 21.83, a price-to-earnings-growth 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.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its 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. 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 analysts' expectations of $23.99 billion. During the same period in the previous year, the business earned $4.10 earnings per share. The firm's revenue was up 1.6% on a year-over-year basis. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Cuts Dividend

The business 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 $0.012 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe's Companies's payout ratio is currently 39.44%.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, CEO Marvin R. Ellison sold 40,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the completion of the transaction, the chief executive officer owned 249,043 shares of the company's stock, valued at $65,772,256.30. The trade was a 13.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the company's 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 completion of the transaction, the executive vice president owned 66,566 shares of the company's stock, valued at $18,145,891.60. This trade represents a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock worth $24,945,752 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

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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