Bard Financial Services Inc. Trims Stake in Lowe’s Companies, Inc. $LOW

Bard Financial Services Inc. trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 11.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,375 shares of the home improvement retailer’s stock after selling 1,125 shares during the quarter. Bard Financial Services Inc.’s holdings in Lowe’s Companies were worth $1,858,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue boosted its holdings in Lowe’s Companies by 1.2% in the 1st 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 in the last quarter. Larson Financial Group LLC lifted its holdings in Lowe’s Companies by 8.1% in the 1st 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 in the last quarter. Advent Capital Management DE boosted its holdings in shares of Lowe’s Companies by 20.0% during the first quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock worth $4,198,000 after purchasing an additional 3,000 shares during the last quarter. Cornerstone Wealth Group LLC lifted its holdings in shares of Lowe’s Companies by 12.6% during the 1st quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer’s stock worth $6,848,000 after acquiring an additional 3,295 shares during the period. Finally, Community Trust & Investment Co. grew its position in Lowe’s Companies by 2.3% during the first quarter. Community Trust & Investment Co. now owns 55,502 shares of the home improvement retailer’s stock valued at $12,945,000 after acquiring an additional 1,251 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. KeyCorp boosted their price target on Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Piper Sandler lifted their price target on shares of Lowe’s Companies from $269.00 to $294.00 and gave the company an “overweight” rating in a report 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. Sanford C. Bernstein lifted their price target on Lowe’s Companies from $266.00 to $279.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Finally, Citigroup reduced their price objective on shares of Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating for the company in a research note on Thursday, July 31st. Sixteen equities research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $284.13.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 40,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the completion of the sale, the chief executive officer owned 249,043 shares of the company’s stock, valued at $65,772,256.30. The trade was a 13.84% decrease in their position. 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 stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total value of $11,942,606.00. Following the sale, the executive vice president directly owned 66,566 shares in the company, valued at approximately $18,145,891.60. This trade represents a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock worth $24,945,752 over the last quarter. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies Trading Down 0.2%

Shares of NYSE:LOW opened at $271.89 on Monday. The business has a 50-day moving average price of $243.26 and a two-hundred day moving average price of $231.63. The stock has a market capitalization of $152.48 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.52 and a beta of 0.87. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, topping 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 company 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 earnings per share. Lowe’s Companies’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. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS 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. Shareholders of record on Wednesday, October 22nd will be issued a $0.012 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio is currently 39.44%.

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.