1248 Management LLC Lowers Stock Position in Lowe’s Companies, Inc. $LOW

1248 Management LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 12.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,627 shares of the home improvement retailer’s stock after selling 495 shares during the period. 1248 Management LLC’s holdings in Lowe’s Companies were worth $846,000 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 lifted its position in shares of 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 worth $29,223,000 after purchasing an additional 1,470 shares during the period. Larson Financial Group LLC lifted its position in shares of 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 worth $3,860,000 after purchasing an additional 1,242 shares during the period. Advent Capital Management DE lifted its position in shares of Lowe’s Companies by 20.0% in the 1st 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 period. Cornerstone Wealth Group LLC lifted its position in shares of Lowe’s Companies by 12.6% in the 1st quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer’s stock worth $6,848,000 after purchasing an additional 3,295 shares during the period. Finally, Community Trust & Investment Co. lifted its position in shares of Lowe’s Companies by 2.3% in the 1st quarter. Community Trust & Investment Co. now owns 55,502 shares of the home improvement retailer’s stock worth $12,945,000 after purchasing an additional 1,251 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LOW shares. Barclays set a $267.00 price target on shares of Lowe’s Companies in a research report on Thursday, August 21st. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research report on Thursday, August 21st. Wells Fargo & Company increased their target price on shares of Lowe’s Companies from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Gordon Haskett raised shares of Lowe’s Companies to a “hold” rating in a research report on Wednesday, August 13th. Finally, Stifel Nicolaus increased their target price on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research report on Monday, August 18th. Sixteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.13.

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, CEO Marvin R. Ellison sold 40,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 249,043 shares in the company, valued at $65,772,256.30. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,121 shares of company stock worth $13,003,146. 0.27% of the stock is owned by corporate insiders.

Lowe’s Companies Trading Up 2.3%

Shares of Lowe’s Companies stock opened at $272.56 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 $152.86 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.47 and a beta of 0.87. The firm’s 50 day simple moving average is $242.38 and its two-hundred day simple moving average is $231.63.

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 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 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 business posted $4.10 EPS. Lowe’s Companies’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. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

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