Horizon Bancorp Inc. IN Purchases Shares of 1,000 Lowe’s Companies, Inc. $LOW

Horizon Bancorp Inc. IN bought a new position 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 & Exchange Commission. The institutional investor bought 1,000 shares of the home improvement retailer’s stock, valued at approximately $222,000.

Several other large investors also recently made changes to their positions in LOW. Nuveen LLC bought a new stake in shares of Lowe’s Companies during the first quarter worth $681,215,000. Pacer Advisors Inc. grew its holdings in shares of Lowe’s Companies by 2,984.6% during the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock worth $475,339,000 after purchasing an additional 1,971,996 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Lowe’s Companies by 49.0% during the first quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer’s stock worth $438,751,000 after purchasing an additional 618,775 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Lowe’s Companies by 10.6% during the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer’s stock worth $1,214,448,000 after purchasing an additional 501,154 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Lowe’s Companies by 6.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer’s stock worth $1,192,213,000 after purchasing an additional 330,701 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the transaction, the executive vice president owned 30,099 shares of the company’s stock, valued at approximately $7,741,462.80. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the 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 completion of the transaction, the executive vice president directly owned 66,566 shares in the company, valued at $18,145,891.60. The trade was a 39.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,931 shares of company stock worth $24,945,752. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Down 1.3%

Shares of LOW opened at $234.59 on Friday. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The firm has a market capitalization of $131.57 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 2.20 and a beta of 0.88. The stock’s fifty day simple moving average is $254.80 and its 200-day simple moving average is $234.37.

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, beating 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 business had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the prior year, the firm posted $4.10 earnings per share. The firm’s revenue for the quarter 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. Analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a yield of 2.0%. Lowe’s Companies’s dividend payout ratio is presently 39.44%.

Analyst Ratings Changes

Several brokerages have recently commented on LOW. JPMorgan Chase & Co. increased their target price on Lowe’s Companies from $280.00 to $283.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Telsey Advisory Group restated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a report on Thursday, August 21st. Barclays set a $267.00 target price on Lowe’s Companies in a report on Thursday, August 21st. Evercore ISI decreased their target price on Lowe’s Companies from $275.00 to $250.00 and set an “in-line” rating on the stock in a report on Tuesday. Finally, Sanford C. Bernstein upped their price target on Lowe’s Companies from $266.00 to $279.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.13.

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.