Triangle Securities Wealth Management Sells 3,402 Shares of Lowe’s Companies, Inc. $LOW

Triangle Securities Wealth Management reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 14.2% during the second quarter, HoldingsChannel reports. The fund owned 20,505 shares of the home improvement retailer’s stock after selling 3,402 shares during the quarter. Lowe’s Companies comprises 1.1% of Triangle Securities Wealth Management’s holdings, making the stock its 26th biggest position. Triangle Securities Wealth Management’s holdings in Lowe’s Companies were worth $4,549,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LOW. Wood Tarver Financial Group LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at about $25,000. Fairway Wealth LLC bought a new stake in shares of Lowe’s Companies during the first quarter valued at about $32,000. Orion Capital Management LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at about $36,000. Inlight Wealth Management LLC bought a new stake in shares of Lowe’s Companies during the first quarter valued at about $36,000. Finally, IFS Advisors LLC increased its position in shares of Lowe’s Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 60 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LOW has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on Lowe’s Companies from $280.00 to $283.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Royal Bank Of Canada upped their price target on Lowe’s Companies from $243.00 to $260.00 and gave the company a “sector perform” rating in a research report on Thursday, August 21st. Guggenheim restated a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, August 21st. Mizuho upped their price objective on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Finally, DA Davidson upped their price objective on shares of Lowe’s Companies from $240.00 to $266.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Seventeen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $285.08.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total value of $10,564,000.00. Following the completion of the sale, the chief executive officer owned 249,043 shares of the company’s stock, valued at $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Juliette Williams Pryor sold 929 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 30,099 shares of the company’s stock, valued at approximately $7,741,462.80. This represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock worth $24,945,752 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW opened at $267.76 on Friday. The firm has a market cap of $150.17 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.48 and a beta of 0.87. The stock has a 50 day simple moving average of $246.80 and a two-hundred day simple moving average of $232.46. 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) last issued its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.09. The business 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%.Lowe’s Companies’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The company 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 annualized dividend and a yield of 0.0%. Lowe’s Companies’s dividend 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.