Grove Bank & Trust Buys 85 Shares of Lowe’s Companies, Inc. $LOW

Grove Bank & Trust grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,003 shares of the home improvement retailer’s stock after buying an additional 85 shares during the period. Grove Bank & Trust’s holdings in Lowe’s Companies were worth $666,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in LOW. Wood Tarver Financial Group LLC acquired a new position in Lowe’s Companies in the 4th quarter valued at approximately $25,000. Fairway Wealth LLC bought a new stake in shares of Lowe’s Companies during the first quarter valued at approximately $32,000. Orion Capital Management LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $36,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe’s Companies in the first quarter valued at $36,000. Finally, IFS Advisors LLC lifted its position in Lowe’s Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 60 shares during the period. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LOW. Stifel Nicolaus lifted their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Monday, August 18th. Gordon Haskett raised shares of Lowe’s Companies to a “hold” rating in a report on Wednesday, August 13th. Robert W. Baird lifted their target price on shares of Lowe’s Companies from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Piper Sandler increased their price target on shares of Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Finally, Truist Financial raised their price target on shares of Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Seventeen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $285.08.

Insider Activity at Lowe’s Companies

In other news, EVP Joseph Michael Mcfarland sold 43,810 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 66,566 shares of the company’s stock, valued at $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brandon J. Sink sold 8,192 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the transaction, the executive vice president owned 21,603 shares of the company’s stock, valued at $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 valued at $24,945,752 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW opened at $267.76 on Friday. The company has a market cap of $150.17 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.48 and a beta of 0.87. The stock has a fifty day moving average price of $246.80 and a two-hundred day moving average price of $232.46. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.09. The company had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently announced 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. The ex-dividend date of this dividend 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 currently 39.44%.

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.