Hobart Private Capital LLC Takes $258,000 Position in Lowe’s Companies, Inc. $LOW

Hobart Private Capital LLC acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,165 shares of the home improvement retailer’s stock, valued at approximately $258,000.

Several other hedge funds have also recently modified their holdings of LOW. Brighton Jones LLC increased its holdings in shares of Lowe’s Companies by 119.7% during the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after acquiring an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Lowe’s Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after acquiring an additional 259 shares in the last quarter. GAMMA Investing LLC boosted its position in Lowe’s Companies by 15.3% in the first quarter. GAMMA Investing LLC now owns 7,106 shares of the home improvement retailer’s stock valued at $1,657,000 after buying an additional 944 shares during the last quarter. Pure Financial Advisors LLC boosted its position in Lowe’s Companies by 33.0% in the first quarter. Pure Financial Advisors LLC now owns 2,642 shares of the home improvement retailer’s stock valued at $616,000 after buying an additional 655 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in Lowe’s Companies by 8.3% in the first quarter. Sequoia Financial Advisors LLC now owns 40,261 shares of the home improvement retailer’s stock valued at $9,390,000 after buying an additional 3,080 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Marvin R. Ellison sold 40,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total value of $10,564,000.00. Following the completion of the transaction, the chief executive officer directly owned 249,043 shares of the company’s stock, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,931 shares of company stock worth $24,945,752. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $243.06 on Friday. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $280.64. The firm has a market capitalization of $136.31 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The business’s 50 day moving average price is $254.64 and its 200-day moving average price is $235.46.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $23.99 billion. During the same quarter last year, the firm posted $4.10 EPS. 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. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

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 given a dividend of $1.20 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. Lowe’s Companies’s dividend payout ratio (DPR) is 39.44%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LOW. KeyCorp upped their target price on Lowe’s Companies from $266.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Wells Fargo & Company upped their target price on Lowe’s Companies from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Wolfe Research began coverage on Lowe’s Companies in a research report on Wednesday, September 17th. They issued an “outperform” rating on the stock. Citigroup lowered their price objective on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating on the stock in a research report on Thursday, July 31st. Finally, Oppenheimer upped their price objective on Lowe’s Companies from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $282.91.

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.