Meridian Wealth Management LLC Sells 357 Shares of Lowe’s Companies, Inc. $LOW

Meridian Wealth Management LLC cut its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,080 shares of the home improvement retailer’s stock after selling 357 shares during the quarter. Meridian Wealth Management LLC’s holdings in Lowe’s Companies were worth $2,458,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vertex Planning Partners LLC raised its stake in Lowe’s Companies by 2.9% in the 1st quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer’s stock valued at $369,000 after acquiring an additional 44 shares during the period. Quadcap Wealth Management LLC raised its position in shares of Lowe’s Companies by 0.5% in the first quarter. Quadcap Wealth Management LLC now owns 9,386 shares of the home improvement retailer’s stock valued at $2,189,000 after purchasing an additional 46 shares during the period. Appleton Partners Inc. MA raised its position in shares of Lowe’s Companies by 1.5% in the second quarter. Appleton Partners Inc. MA now owns 3,214 shares of the home improvement retailer’s stock valued at $713,000 after purchasing an additional 47 shares during the period. Fielder Capital Group LLC lifted its stake in shares of Lowe’s Companies by 5.9% during the 1st quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer’s stock valued at $202,000 after buying an additional 48 shares in the last quarter. Finally, Intrua Financial LLC lifted its position in shares of Lowe’s Companies by 3.2% during the second quarter. Intrua Financial LLC now owns 1,555 shares of the home improvement retailer’s stock worth $345,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $227.59 on Friday. The firm has a market capitalization of $127.64 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $280.64. The firm has a fifty day moving average of $247.66 and a 200 day moving average of $237.39.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $23.99 billion. During the same quarter in the previous year, the company posted $4.10 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd were paid a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.1%. Lowe’s Companies’s dividend payout ratio is 39.44%.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Brandon J. Sink sold 8,192 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 21,603 shares of the company’s stock, valued at $5,802,133.74. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 66,566 shares in the company, valued at $18,145,891.60. This trade represents a 39.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 92,931 shares of company stock worth $24,945,752 in the last 90 days. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LOW has been the subject of several recent research reports. Citigroup reduced their price target on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating for the company in a research report on Thursday, July 31st. Truist Financial lowered their price target on shares of Lowe’s Companies from $283.00 to $267.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Robert W. Baird boosted their price objective on shares of Lowe’s Companies from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. lowered their target price on shares of Lowe’s Companies from $283.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Finally, Wolfe Research assumed coverage on shares of Lowe’s Companies in a report on Wednesday, September 17th. They issued an “outperform” rating for the company. Sixteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.91.

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.