Arvest Investments Inc. Has $1.24 Million Stock Holdings in Lowe’s Companies, Inc. $LOW

Arvest Investments Inc. lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 40.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,593 shares of the home improvement retailer’s stock after selling 3,761 shares during the quarter. Arvest Investments Inc.’s holdings in Lowe’s Companies were worth $1,241,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of LOW. Nuveen LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth about $681,215,000. Pacer Advisors Inc. lifted its stake in shares of Lowe’s Companies by 2,984.6% during the 1st quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock worth $475,339,000 after buying an additional 1,971,996 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Lowe’s Companies by 26,796.0% during the 1st quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock worth $386,540,000 after buying an additional 1,651,170 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Lowe’s Companies by 1,048.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer’s stock worth $172,527,000 after buying an additional 675,318 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth about $159,029,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LOW. Gordon Haskett upgraded shares of Lowe’s Companies to a “hold” rating in a research note on Wednesday, August 13th. DA Davidson lifted their price objective on shares of Lowe’s Companies from $240.00 to $266.00 and gave the stock a “neutral” rating 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. Wells Fargo & Company lifted their price objective on shares of Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Finally, Sanford C. Bernstein lifted their price objective on shares of Lowe’s Companies from $266.00 to $279.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $284.13.

Lowe’s Companies Trading Down 0.2%

Shares of NYSE:LOW opened at $271.89 on Friday. The firm has a 50 day moving average of $243.26 and a 200-day moving average of $231.73. The stock has a market capitalization of $152.48 billion, a PE ratio of 22.34, a PEG ratio of 2.52 and a beta of 0.87. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, beating the consensus estimate of $4.24 by $0.09. The company had revenue of $23.96 billion during the quarter, compared to analysts’ expectations of $23.99 billion. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders 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 dividend yield of 0.0%. Lowe’s Companies’s payout ratio is presently 39.44%.

Insider Activity at Lowe’s Companies

In related news, EVP Brandon J. Sink sold 8,192 shares of Lowe’s Companies 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 sale, the executive vice president directly owned 21,603 shares of the company’s stock, valued at approximately $5,802,133.74. The trade was a 27.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of Lowe’s Companies 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 sale, the chief executive officer directly owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,931 shares of company stock valued at $24,945,752. Company insiders own 0.27% of the company’s stock.

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.