Alpine Bank Wealth Management Lowers Stock Position in Lowe’s Companies, Inc. $LOW

Alpine Bank Wealth Management lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,366 shares of the home improvement retailer’s stock after selling 428 shares during the quarter. Alpine Bank Wealth Management’s holdings in Lowe’s Companies were worth $2,744,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LOW. SeaBridge Investment Advisors LLC boosted its stake in shares of Lowe’s Companies by 3.7% in the second quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock valued at $2,859,000 after purchasing an additional 465 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Lowe’s Companies by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer’s stock valued at $29,223,000 after purchasing an additional 1,470 shares during the period. Larson Financial Group LLC boosted its stake in shares of Lowe’s Companies by 8.1% in the first quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock valued at $3,860,000 after purchasing an additional 1,242 shares during the period. Advent Capital Management DE boosted its stake in shares of Lowe’s Companies by 20.0% in the first quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock valued at $4,198,000 after purchasing an additional 3,000 shares during the period. Finally, Cornerstone Wealth Group LLC boosted its stake in shares of Lowe’s Companies by 12.6% in the first quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer’s stock valued at $6,848,000 after purchasing an additional 3,295 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.6%

Shares of NYSE:LOW opened at $257.18 on Monday. The firm has a 50 day simple moving average of $251.61 and a 200-day simple moving average of $233.35. The company has a market capitalization of $144.23 billion, a PE ratio of 21.13, a P/E/G ratio of 2.38 and a beta of 0.87. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month 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 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.09. The business had revenue of $23.96 billion for the quarter, compared to analysts’ expectations of $23.99 billion. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be paid a $0.012 dividend. This represents a $0.05 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe’s Companies’s payout ratio is currently 39.44%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LOW shares. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Thursday, August 21st. JPMorgan Chase & Co. lifted their price target on shares of Lowe’s Companies from $280.00 to $283.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Mizuho lifted their price target on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Truist Financial lifted their price target on shares of Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Finally, Sanford C. Bernstein lifted their price target on shares of Lowe’s Companies from $266.00 to $279.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Sixteen 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 company. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $285.50.

Insider Activity

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 929 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $7,741,462.80. The trade was a 2.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the transaction, the chief executive officer directly owned 249,043 shares in the company, valued at $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is owned by corporate insiders.

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.