Fortitude Family Office LLC Trims Stock Position in Lowe’s Companies, Inc. $LOW

Fortitude Family Office LLC lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 66.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 414 shares of the home improvement retailer’s stock after selling 830 shares during the period. Fortitude Family Office LLC’s holdings in Lowe’s Companies were worth $92,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of LOW. Nuveen LLC acquired a new stake in Lowe’s Companies during the 1st quarter valued at $681,215,000. Pacer Advisors Inc. grew its holdings in Lowe’s Companies by 2,984.6% during the 1st quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock valued at $475,339,000 after purchasing an additional 1,971,996 shares in the last quarter. GAMMA Investing LLC grew its holdings in Lowe’s Companies by 26,796.0% during the 1st quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock valued at $386,540,000 after purchasing an additional 1,651,170 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Lowe’s Companies by 1,048.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer’s stock valued at $172,527,000 after purchasing an additional 675,318 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Lowe’s Companies during the 4th quarter valued at $159,029,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.3%

Lowe’s Companies stock opened at $259.62 on Wednesday. The firm has a 50-day moving average price of $249.29 and a two-hundred day moving average price of $232.81. The firm has a market capitalization of $145.60 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.41 and a beta of 0.87. 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 issued its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same period last year, the company earned $4.10 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Research 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 disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $0.012 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $0.05 dividend on an annualized basis and a yield of 0.0%. Lowe’s Companies’s payout ratio is presently 39.44%.

Wall Street Analyst Weigh In

LOW has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Lowe’s Companies from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Barclays set a $267.00 price target on shares of Lowe’s Companies in a report on Thursday, August 21st. Sanford C. Bernstein raised their price target on shares of Lowe’s Companies from $266.00 to $279.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Gordon Haskett raised shares of Lowe’s Companies to a “hold” rating in a report on Wednesday, August 13th. Finally, DA Davidson raised their price objective on shares of Lowe’s Companies from $240.00 to $266.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st. Fifteen research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.00.

Insider Activity at Lowe’s Companies

In related news, EVP Brandon J. Sink sold 8,192 shares of the business’s 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 transaction, the executive vice president directly owned 21,603 shares of the company’s stock, valued at approximately $5,802,133.74. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the business’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,931 shares of company stock valued at $24,945,752. Company insiders own 0.27% of the company’s stock.

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.