Lowe’s Companies, Inc. $LOW Shares Bought by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,218 shares of the home improvement retailer’s stock after acquiring an additional 101 shares during the period. Lowe’s Companies makes up about 0.8% of Pitti Group Wealth Management LLC’s portfolio, making the stock its 28th biggest position. Pitti Group Wealth Management LLC’s holdings in Lowe’s Companies were worth $936,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LOW. Brighton Jones LLC raised its stake in shares of Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after buying an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Lowe’s Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after buying an additional 259 shares during the last quarter. Menard Financial Group LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth about $56,000. Park Square Financial Group LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth about $45,000. Finally, Wood Tarver Financial Group LLC purchased a new position in Lowe’s Companies during the fourth quarter valued at approximately $25,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lowe’s Companies

In other news, EVP Juliette Williams Pryor sold 929 shares of Lowe’s Companies 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 sale, the executive vice president directly owned 30,099 shares of the company’s stock, valued at $7,741,462.80. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the transaction, the executive vice president directly owned 21,603 shares of the company’s stock, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,931 shares of company stock worth $24,945,752. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on LOW. KeyCorp upped their price objective on Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Mizuho boosted their target price on shares of Lowe’s Companies from $280.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Royal Bank Of Canada increased their price target on shares of Lowe’s Companies from $243.00 to $260.00 and gave the stock a “sector perform” rating in a report on Thursday, August 21st. DA Davidson raised their price target on shares of Lowe’s Companies from $240.00 to $266.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Finally, Truist Financial upped their price objective on shares of Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a research 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.00.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $257.40 on Thursday. The firm has a fifty day moving average of $250.11 and a 200 day moving average of $232.98. The firm has a market cap of $144.36 billion, a PE ratio of 21.15, a PEG ratio of 2.40 and a beta of 0.87. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year 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 (EPS) for the quarter, beating 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 last year, the business earned $4.10 earnings per share. The company’s revenue for the quarter 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. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be given a $0.012 dividend. 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 (DPR) is 39.44%.

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.