Petros Family Wealth LLC Reduces Stock Position in Lowe’s Companies, Inc. $LOW

Petros Family Wealth LLC cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,505 shares of the home improvement retailer’s stock after selling 66 shares during the period. Petros Family Wealth LLC’s holdings in Lowe’s Companies were worth $778,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Joule Financial LLC raised its position in shares of Lowe’s Companies by 9.6% during the 2nd quarter. Joule Financial LLC now owns 1,114 shares of the home improvement retailer’s stock valued at $247,000 after purchasing an additional 98 shares during the period. Plimoth Trust Co. LLC grew its stake in Lowe’s Companies by 1.5% during the second quarter. Plimoth Trust Co. LLC now owns 16,741 shares of the home improvement retailer’s stock valued at $3,714,000 after acquiring an additional 242 shares in the last quarter. DAVENPORT & Co LLC grew its stake in Lowe’s Companies by 16.0% during the second quarter. DAVENPORT & Co LLC now owns 529,916 shares of the home improvement retailer’s stock valued at $117,726,000 after acquiring an additional 72,923 shares in the last quarter. Merit Financial Group LLC grew its stake in Lowe’s Companies by 27.1% during the second quarter. Merit Financial Group LLC now owns 34,155 shares of the home improvement retailer’s stock valued at $7,578,000 after acquiring an additional 7,282 shares in the last quarter. Finally, Simplicity Wealth LLC grew its stake in Lowe’s Companies by 55.0% during the second quarter. Simplicity Wealth LLC now owns 16,250 shares of the home improvement retailer’s stock valued at $3,605,000 after acquiring an additional 5,766 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Price Performance

Shares of LOW opened at $246.24 on Monday. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The company has a 50-day moving average of $253.95 and a 200 day moving average of $234.20. The firm has a market capitalization of $138.10 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.28 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.09. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The company had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. During the same quarter last year, the business posted $4.10 EPS. The firm’s revenue for the quarter 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, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be issued a $1.20 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Lowe’s Companies’s payout ratio is currently 39.44%.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Joseph Michael Mcfarland sold 43,810 shares of the business’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 completion of the sale, the executive vice president owned 66,566 shares in the company, valued at approximately $18,145,891.60. The trade was a 39.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction 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 approximately $65,772,256.30. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,931 shares of company stock worth $24,945,752. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on LOW. Guggenheim reissued a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, August 21st. Stifel Nicolaus lifted their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Monday, August 18th. JPMorgan Chase & Co. lifted their price objective on shares of Lowe’s Companies from $280.00 to $283.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. KeyCorp lifted their price target on shares of Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Finally, Mizuho lifted their price target on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Seventeen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $285.50.

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.