Lowe’s Companies, Inc. $LOW Position Raised by Old North State Wealth Management LLC

Old North State Wealth Management LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 13.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,266 shares of the home improvement retailer’s stock after buying an additional 150 shares during the quarter. Old North State Wealth Management LLC’s holdings in Lowe’s Companies were worth $281,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of LOW. Vertex Planning Partners LLC grew its holdings in Lowe’s Companies by 2.9% during the first quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer’s stock worth $369,000 after acquiring an additional 44 shares during the period. Quadcap Wealth Management LLC grew its holdings in Lowe’s Companies by 0.5% during the first quarter. Quadcap Wealth Management LLC now owns 9,386 shares of the home improvement retailer’s stock worth $2,189,000 after acquiring an additional 46 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in Lowe’s Companies by 0.8% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer’s stock worth $1,357,000 after acquiring an additional 47 shares during the period. Fielder Capital Group LLC grew its holdings in Lowe’s Companies by 5.9% during the first quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer’s stock worth $202,000 after acquiring an additional 48 shares during the period. Finally, Dumont & Blake Investment Advisors LLC grew its holdings in Lowe’s Companies by 1.1% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer’s stock worth $1,066,000 after acquiring an additional 49 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 value of $11,942,606.00. Following the completion of the sale, the executive vice president directly owned 66,566 shares in the company, valued at approximately $18,145,891.60. The trade was a 39.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Juliette Williams Pryor sold 929 shares of the business’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 owned 30,099 shares of the company’s stock, valued at approximately $7,741,462.80. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,931 shares of company stock valued at $24,945,752 in the last quarter. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $255.71 on Friday. The stock has a market cap of $143.41 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.38 and a beta of 0.87. The business has a 50 day simple moving average of $250.85 and a 200 day simple moving average of $233.07. 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 announced its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, beating the consensus estimate of $4.24 by $0.09. The business had revenue of $23.96 billion during the quarter, compared to analysts’ expectations of $23.99 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be issued a $0.012 dividend. This represents a $0.05 annualized dividend and a yield of 0.0%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s payout ratio is 39.44%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Lowe’s Companies from $280.00 to $283.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. KeyCorp boosted 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. Royal Bank Of Canada boosted their price objective on Lowe’s Companies from $243.00 to $260.00 and gave the stock a “sector perform” rating in a report on Thursday, August 21st. Wells Fargo & Company boosted 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. Finally, Wolfe Research initiated coverage on Lowe’s Companies in a report on Wednesday, September 17th. They set an “outperform” rating on the stock. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $285.50.

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.