Rhumbline Advisers Trims Stake in Lowe’s Companies, Inc. $LOW

Rhumbline Advisers trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,093,432 shares of the home improvement retailer’s stock after selling 5,223 shares during the quarter. Rhumbline Advisers’ holdings in Lowe’s Companies were worth $242,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Lowe’s Companies by 0.7% in the second quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock valued at $12,197,604,000 after acquiring an additional 366,977 shares in the last quarter. Geode Capital Management LLC increased its position in Lowe’s Companies by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock valued at $2,732,049,000 after purchasing an additional 42,190 shares during the period. Invesco Ltd. raised its holdings in shares of Lowe’s Companies by 10.6% in the 1st quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer’s stock valued at $1,214,448,000 after purchasing an additional 501,154 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Lowe’s Companies by 6.9% in the 1st 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 period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Lowe’s Companies by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,779,120 shares of the home improvement retailer’s stock valued at $881,406,000 after purchasing an additional 225,964 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $234.12 on Friday. The business’s 50-day moving average is $243.31 and its 200 day moving average is $237.39. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $280.64. The firm 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 results on Wednesday, November 19th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 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 $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. During the same quarter last year, the company earned $2.89 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Lowe’s Companies has set its FY 2025 guidance at 12.250-12.250 EPS. On average, analysts expect 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, February 4th. Shareholders of record on Wednesday, January 21st will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s payout ratio is currently 39.80%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LOW shares. Sanford C. Bernstein increased their target price on Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group dropped their price objective on Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a research report on Thursday. KeyCorp lifted their target price on Lowe’s Companies from $266.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Robert W. Baird reduced their target price on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Oppenheimer raised their price target on shares of Lowe’s Companies from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, September 25th. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.41.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Brandon J. Sink sold 8,192 shares of the company’s 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 transaction, the executive vice president owned 21,603 shares in the company, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of Lowe’s Companies stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the sale, the executive vice president owned 66,566 shares of the company’s stock, valued at $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 52,931 shares of company stock worth $14,381,752. 0.27% of the stock is owned by corporate insiders.

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.