Hennessy Advisors Inc. Cuts Stake in Lowe’s Companies, Inc. $LOW

Hennessy Advisors Inc. lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 86.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,381 shares of the home improvement retailer’s stock after selling 9,019 shares during the period. Hennessy Advisors Inc.’s holdings in Lowe’s Companies were worth $306,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vertex Planning Partners LLC grew its position in shares of Lowe’s Companies by 2.9% during the first quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer’s stock worth $369,000 after purchasing an additional 44 shares in the last quarter. Quadcap Wealth Management LLC grew its holdings in Lowe’s Companies by 0.5% during the 1st quarter. Quadcap Wealth Management LLC now owns 9,386 shares of the home improvement retailer’s stock valued at $2,189,000 after buying an additional 46 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in Lowe’s Companies by 0.8% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer’s stock valued at $1,357,000 after buying an additional 47 shares in the last quarter. Fielder Capital Group LLC grew its holdings in Lowe’s Companies by 5.9% during the 1st quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer’s stock valued at $202,000 after buying an additional 48 shares in the last quarter. Finally, Zullo Investment Group Inc. grew its holdings in Lowe’s Companies by 1.1% during the 1st quarter. Zullo Investment Group Inc. now owns 4,542 shares of the home improvement retailer’s stock valued at $1,059,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $246.24 on Friday. The stock has a market cap of $138.10 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 2.28 and a beta of 0.88. The stock has a 50 day moving average price of $253.95 and a 200-day moving average price of $234.14. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year high of $287.01.

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, topping analysts’ consensus estimates 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 firm had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. During the same period last year, the company earned $4.10 EPS. Lowe’s Companies’s quarterly revenue 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. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Gordon Haskett upgraded Lowe’s Companies to a “hold” rating in a report on Wednesday, August 13th. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a report on Thursday, August 21st. Barclays set a $267.00 price target on Lowe’s Companies in a report on Thursday, August 21st. JPMorgan Chase & Co. lifted their target price on Lowe’s Companies from $280.00 to $283.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Lowe’s Companies in a report on Saturday, September 27th. Seventeen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $285.50.

Insiders Place Their Bets

In related news, EVP Brandon J. Sink sold 8,192 shares of the firm’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 approximately $5,802,133.74. This trade represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the firm’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock valued at $24,945,752 over the last quarter. 0.27% of the stock is currently owned by insiders.

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.