Penobscot Investment Management Company Inc. Reduces Holdings in Lowe’s Companies, Inc. $LOW

Penobscot Investment Management Company Inc. decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,795 shares of the home improvement retailer’s stock after selling 310 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Lowe’s Companies were worth $1,951,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC increased its stake in Lowe’s Companies by 3.7% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after buying an additional 465 shares during the period. State of Alaska Department of Revenue increased its stake in Lowe’s Companies by 1.2% during 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 buying an additional 1,470 shares during the period. Larson Financial Group LLC increased its stake in Lowe’s Companies by 8.1% during the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock worth $3,860,000 after buying an additional 1,242 shares during the period. Advent Capital Management DE grew its holdings in Lowe’s Companies by 20.0% during the 1st quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock worth $4,198,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Cornerstone Wealth Group LLC grew its holdings in Lowe’s Companies by 12.6% during the 1st quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer’s stock worth $6,848,000 after acquiring an additional 3,295 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.4%

LOW stock opened at $246.24 on Friday. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The company has a market capitalization of $138.10 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 2.29 and a beta of 0.88. The firm’s 50-day moving average is $253.95 and its two-hundred day moving average is $234.08.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, topping 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 the consensus estimate of $23.99 billion. During the same period in the previous year, the firm earned $4.10 EPS. The business’s revenue for the quarter 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. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. Lowe’s Companies’s payout ratio is presently 39.44%.

Analyst Upgrades and Downgrades

LOW has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. JPMorgan Chase & Co. lifted their price target on shares of Lowe’s Companies from $280.00 to $283.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Mizuho lifted their price target on shares of Lowe’s Companies from $280.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Guggenheim reaffirmed a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a report on Thursday, August 21st. Finally, KeyCorp lifted their price target on shares of Lowe’s Companies from $266.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Seventeen equities 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $285.50.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 43,810 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value of $11,942,606.00. Following the completion of the sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Brandon J. Sink sold 8,192 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the sale, the executive vice president directly owned 21,603 shares of the company’s stock, valued at $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,931 shares of company stock valued at $24,945,752. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies 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.