Providence Wealth Advisors LLC Grows Stock Position in Lowe’s Companies, Inc. $LOW

Providence Wealth Advisors LLC lifted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.8% during the second quarter, HoldingsChannel.com reports. The fund owned 7,751 shares of the home improvement retailer’s stock after acquiring an additional 286 shares during the period. Lowe’s Companies makes up 1.3% of Providence Wealth Advisors LLC’s portfolio, making the stock its 21st largest position. Providence Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $1,842,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Solstein Capital LLC boosted its stake in Lowe’s Companies by 627.8% during the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 113 shares during the last quarter. Traub Capital Management LLC purchased a new position in shares of Lowe’s Companies in the second quarter worth about $30,000. Olistico Wealth LLC purchased a new position in shares of Lowe’s Companies in the second quarter worth about $33,000. Barnes Dennig Private Wealth Management LLC boosted its position in Lowe’s Companies by 101.0% during the second quarter. Barnes Dennig Private Wealth Management LLC now owns 193 shares of the home improvement retailer’s stock worth $43,000 after acquiring an additional 97 shares during the last quarter. Finally, Orion Capital Management LLC grew its stake in Lowe’s Companies by 34.2% during the 1st quarter. Orion Capital Management LLC now owns 196 shares of the home improvement retailer’s stock valued at $46,000 after acquiring an additional 50 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the transaction, the executive vice president owned 21,603 shares of the company’s stock, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total transaction of $238,938.80. Following the completion of the sale, the executive vice president owned 30,099 shares of the company’s stock, valued at $7,741,462.80. This trade represents a 2.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 52,931 shares of company stock valued at $14,381,752. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. HSBC decreased their target price on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research note on Friday. Bank of America reduced their price objective on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday. Guggenheim restated a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a report on Thursday, August 21st. Wells Fargo & Company reduced their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Finally, Robert W. Baird lowered their price target on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a research report on Thursday. Sixteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $274.75.

Lowe’s Companies Stock Up 2.5%

NYSE:LOW opened at $234.12 on Friday. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $280.64. The stock’s fifty day moving average is $243.31 and its two-hundred day moving average is $237.49. The company has a market capitalization of $131.30 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.21 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, November 19th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The firm had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $2.89 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.250-12.250 EPS. Sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is currently 39.80%.

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.