Adirondack Trust Co. Reduces Stock Position in Lowe’s Companies, Inc. $LOW

Adirondack Trust Co. reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,769 shares of the home improvement retailer’s stock after selling 64 shares during the period. Adirondack Trust Co.’s holdings in Lowe’s Companies were worth $614,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new position in Lowe’s Companies in the fourth quarter worth $25,000. Fairway Wealth LLC purchased a new position in Lowe’s Companies in the 1st quarter worth $32,000. Orion Capital Management LLC purchased a new position in Lowe’s Companies in the 4th quarter worth $36,000. Inlight Wealth Management LLC purchased a new position in Lowe’s Companies in the 1st quarter worth $36,000. Finally, IFS Advisors LLC raised its position in Lowe’s Companies by 60.0% in the 1st 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. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the sale, the executive vice president owned 21,603 shares in the company, valued at $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the firm’s 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 trade represents a 39.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,931 shares of company stock worth $24,945,752. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on LOW shares. UBS Group lifted their target price on shares of Lowe’s Companies from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Piper Sandler boosted their price objective on shares of Lowe’s Companies from $269.00 to $294.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Sanford C. Bernstein boosted their price objective on shares of Lowe’s Companies from $266.00 to $279.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Royal Bank Of Canada boosted their price objective on shares of 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. Finally, Mizuho boosted their price objective on shares of Lowe’s Companies from $280.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Seventeen research 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $285.08.

Lowe’s Companies Price Performance

NYSE:LOW opened at $265.68 on Friday. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year high of $287.01. The company’s 50-day simple moving average is $247.63 and its 200 day simple moving average is $232.64. The firm has a market capitalization of $149.00 billion, a P/E ratio of 21.83, a PEG ratio of 2.48 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data 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 net margin of 8.20% and a negative return on equity of 52.02%. The business had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the previous year, the firm posted $4.10 earnings per share. Lowe’s Companies’s quarterly 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, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be paid a dividend of $0.012 per share. 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 payout ratio is presently 39.44%.

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.