Lowe’s Companies, Inc. $LOW Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,935 shares of the home improvement retailer’s stock after acquiring an additional 280 shares during the quarter. Independence Bank of Kentucky’s holdings in Lowe’s Companies were worth $3,314,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in shares of Lowe’s Companies during the first quarter worth about $32,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe’s Companies during the first quarter worth about $36,000. IFS Advisors LLC lifted its stake in shares of Lowe’s Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 60 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Lowe’s Companies during the first quarter worth about $38,000. Finally, JNBA Financial Advisors lifted its stake in shares of Lowe’s Companies by 147.1% during the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LOW. 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 research note on Thursday, August 21st. UBS Group boosted their price objective on Lowe’s Companies from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Royal Bank Of Canada boosted their price target on Lowe’s Companies from $243.00 to $260.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 21st. Oppenheimer boosted their price target on Lowe’s Companies from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Sanford C. Bernstein boosted their price target on 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 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, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average target price of $285.50.

Insider Transactions at Lowe’s Companies

In other news, 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 transaction of $11,942,606.00. Following the completion of the transaction, the executive vice president directly owned 66,566 shares of the company’s stock, valued at approximately $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brandon J. Sink sold 8,192 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 21,603 shares of the company’s stock, valued at $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock valued at $24,945,752 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Up 0.6%

Shares of Lowe’s Companies stock opened at $257.18 on Monday. The firm has a market cap of $144.23 billion, a P/E ratio of 21.13, a P/E/G ratio of 2.38 and a beta of 0.87. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The business has a 50-day moving average price of $251.61 and a 200 day moving average price of $233.35.

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. The firm had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.Lowe’s Companies’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed 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 of this dividend is Wednesday, October 22nd. Lowe’s Companies’s payout ratio is currently 39.44%.

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.