Norden Group LLC Increases Stake in Lowe’s Companies, Inc. $LOW

Norden Group LLC grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,530 shares of the home improvement retailer’s stock after buying an additional 124 shares during the quarter. Norden Group LLC’s holdings in Lowe’s Companies were worth $2,114,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Accurate Wealth Management LLC boosted its stake in shares of Lowe’s Companies by 10.7% in the 2nd quarter. Accurate Wealth Management LLC now owns 3,147 shares of the home improvement retailer’s stock valued at $717,000 after buying an additional 304 shares during the period. Waycross Partners LLC lifted its stake in Lowe’s Companies by 3.8% during the second quarter. Waycross Partners LLC now owns 107,192 shares of the home improvement retailer’s stock worth $23,783,000 after purchasing an additional 3,937 shares during the last quarter. Revisor Wealth Management LLC lifted its stake in Lowe’s Companies by 26.8% during the second quarter. Revisor Wealth Management LLC now owns 4,297 shares of the home improvement retailer’s stock worth $979,000 after purchasing an additional 908 shares during the last quarter. Cardinal Capital Management lifted its stake in Lowe’s Companies by 2.4% during the second quarter. Cardinal Capital Management now owns 48,035 shares of the home improvement retailer’s stock worth $10,658,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Lowe’s Companies during the second quarter worth approximately $294,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling

In other news, EVP Brandon J. Sink sold 8,192 shares of the company’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 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’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 value of $11,942,606.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock worth $24,945,752 over the last three months. 0.27% of the stock is owned by company insiders.

Lowe’s Companies Trading Down 0.3%

Shares of NYSE LOW opened at $259.62 on Wednesday. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The stock has a 50 day moving average of $249.29 and a two-hundred day moving average of $232.81. The stock has a market cap of $145.60 billion, a P/E ratio of 21.33, a P/E/G ratio of 2.41 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $23.99 billion. During the same quarter in the previous year, the business earned $4.10 earnings per share. The firm’s revenue for the quarter 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. As a group, research analysts predict 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. Stockholders of record on Wednesday, October 22nd will be paid a dividend of $0.012 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio is 39.44%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LOW shares. Piper Sandler boosted their target price on Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. KeyCorp raised their price objective on Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Wells Fargo & Company raised their price objective on Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Mizuho raised their price objective on Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Finally, Wolfe Research started coverage on Lowe’s Companies in a report on Wednesday, September 17th. They set an “outperform” rating on the stock. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.00.

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.