Patron Partners LLC Acquires 223 Shares of Lowe’s Companies, Inc. $LOW

Patron Partners LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.2% in the second quarter, HoldingsChannel.com reports. The fund owned 3,320 shares of the home improvement retailer’s stock after purchasing an additional 223 shares during the period. Patron Partners LLC’s holdings in Lowe’s Companies were worth $737,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of LOW. Nuveen LLC bought a new stake in shares of Lowe’s Companies during the 1st quarter valued at about $681,215,000. Pacer Advisors Inc. boosted its position in shares of 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 acquiring an additional 1,971,996 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 1,651,170 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of 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 acquiring an additional 675,318 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Lowe’s Companies by 49.0% during the 1st quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer’s stock valued at $438,751,000 after acquiring an additional 618,775 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $255.71 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The stock has a 50 day moving average price of $250.85 and a two-hundred day moving average price of $233.07. The company has a market capitalization of $143.41 billion, a P/E ratio of 21.01, a PEG ratio of 2.38 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $23.96 billion during the quarter, compared to the consensus estimate of $23.99 billion. During the same quarter in the previous year, the company posted $4.10 earnings per share. The business’s 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. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $0.05 annualized dividend and a dividend yield of 0.0%. Lowe’s Companies’s payout ratio is 39.44%.

Insiders Place Their Bets

In other news, CEO Marvin R. Ellison sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the transaction, the chief executive officer directly owned 249,043 shares of the company’s stock, valued at approximately $65,772,256.30. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total value of $238,938.80. Following the transaction, the executive vice president directly owned 30,099 shares in the company, valued at $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 sold a total of 92,931 shares of company stock valued at $24,945,752 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Sanford C. Bernstein raised their price objective on Lowe’s Companies from $266.00 to $279.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Barclays set a $267.00 price objective on Lowe’s Companies in a report on Thursday, August 21st. Oppenheimer raised their price objective on Lowe’s Companies from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group raised their price objective on Lowe’s Companies from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Finally, Wells Fargo & Company raised their price objective on Lowe’s Companies from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $285.50.

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.