Sheets Smith Wealth Management Decreases Stock Position in Lowe’s Companies, Inc. $LOW

Sheets Smith Wealth Management lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,843 shares of the home improvement retailer’s stock after selling 690 shares during the quarter. Sheets Smith Wealth Management’s holdings in Lowe’s Companies were worth $1,962,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waycross Partners LLC grew its stake in shares of Lowe’s Companies by 3.8% during the second quarter. Waycross Partners LLC now owns 107,192 shares of the home improvement retailer’s stock valued at $23,783,000 after acquiring an additional 3,937 shares in the last quarter. Revisor Wealth Management LLC grew its stake in Lowe’s Companies by 26.8% during the 2nd quarter. Revisor Wealth Management LLC now owns 4,297 shares of the home improvement retailer’s stock valued at $979,000 after purchasing an additional 908 shares in the last quarter. Cardinal Capital Management grew its stake in Lowe’s Companies by 2.4% during the 2nd quarter. Cardinal Capital Management now owns 48,035 shares of the home improvement retailer’s stock valued at $10,658,000 after purchasing an additional 1,103 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Lowe’s Companies in the 2nd quarter valued at approximately $294,000. Finally, Opal Wealth Advisors LLC raised its position in shares of Lowe’s Companies by 4.5% in the 2nd quarter. Opal Wealth Advisors LLC now owns 2,806 shares of the home improvement retailer’s stock valued at $623,000 after purchasing an additional 121 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

LOW has been the subject of a number of recent analyst reports. Guggenheim reissued a “buy” rating and set a $300.00 price target on shares of Lowe’s Companies in a research report on Thursday, August 21st. Stifel Nicolaus raised their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a report on Monday, August 18th. KeyCorp boosted their target price on shares of Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Wolfe Research began coverage on shares of Lowe’s Companies in a research note on Wednesday, September 17th. They issued an “outperform” rating on the stock. Finally, Mizuho lifted their price target on Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus target price of $284.00.

Lowe’s Companies Stock Down 0.3%

Shares of NYSE LOW opened at $259.62 on Wednesday. The firm’s 50-day moving average price is $249.29 and its two-hundred day moving average price is $232.81. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The stock has a market capitalization of $145.60 billion, a P/E ratio of 21.33, a P/E/G ratio of 2.41 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $23.99 billion. During the same quarter last year, the business posted $4.10 EPS. The business’s revenue 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. As a group, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be given a $0.012 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $0.05 annualized dividend and a yield of 0.0%. Lowe’s Companies’s dividend payout ratio is 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.