Fulton Bank N.A. Decreases Stock Holdings in Lowe’s Companies, Inc. $LOW

Fulton Bank N.A. decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,935 shares of the home improvement retailer’s stock after selling 629 shares during the quarter. Fulton Bank N.A.’s holdings in Lowe’s Companies were worth $3,757,000 at the end of the most recent quarter.

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

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $268.04 on Thursday. The firm has a fifty day moving average price of $246.01 and a 200-day moving average price of $232.31. The stock has a market cap of $150.32 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 2.50 and a beta of 0.87. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.09. The firm 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 company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be paid a $0.012 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.0%. Lowe’s Companies’s dividend payout ratio is 39.44%.

Insider Activity

In related news, CEO Marvin R. Ellison sold 40,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 249,043 shares in the company, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total transaction of $238,938.80. Following the transaction, the executive vice president owned 30,099 shares of the company’s stock, valued at approximately $7,741,462.80. This represents a 2.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on LOW. KeyCorp boosted their price objective 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Thursday, August 21st. Piper Sandler upped their target price on shares of Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Mizuho upped their target price 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. Finally, Sanford C. Bernstein upped their target price 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 given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $284.13.

Lowe’s Companies Company Profile

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.