Highland Capital Management LLC Grows Stake in Lowe’s Companies, Inc. $LOW

Highland Capital Management LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,168 shares of the home improvement retailer’s stock after buying an additional 183 shares during the quarter. Lowe’s Companies comprises 1.0% of Highland Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Highland Capital Management LLC’s holdings in Lowe’s Companies were worth $18,231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOW. Brighton Jones LLC increased its position in Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after purchasing an additional 17,413 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Lowe’s Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after purchasing an additional 259 shares in the last quarter. Signal Advisors Wealth LLC increased its position in shares of Lowe’s Companies by 21.7% during the first quarter. Signal Advisors Wealth LLC now owns 5,066 shares of the home improvement retailer’s stock valued at $1,181,000 after buying an additional 902 shares during the period. Intellectus Partners LLC raised its stake in Lowe’s Companies by 2.2% in the first quarter. Intellectus Partners LLC now owns 2,404 shares of the home improvement retailer’s stock worth $561,000 after buying an additional 51 shares in the last quarter. Finally, Pitti Group Wealth Management LLC raised its stake in Lowe’s Companies by 3.2% in the first quarter. Pitti Group Wealth Management LLC now owns 4,117 shares of the home improvement retailer’s stock worth $960,000 after buying an additional 126 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Activity

In other news, EVP Brandon J. Sink sold 8,192 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the transaction, the executive vice president owned 21,603 shares in the company, valued at $5,802,133.74. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $10,564,000.00. Following the transaction, the chief executive officer directly owned 249,043 shares in the company, valued at approximately $65,772,256.30. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock worth $24,945,752 over the last three months. 0.27% of the stock is currently owned by insiders.

Lowe’s Companies Trading Down 0.4%

NYSE LOW opened at $246.24 on Friday. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The stock’s fifty day moving average price is $253.95 and its 200-day moving average price is $234.14. The stock has a market cap of $138.10 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.28 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm 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. As a group, analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. DA Davidson lifted their price objective on Lowe’s Companies from $240.00 to $266.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Truist Financial lifted their price target on Lowe’s Companies from $264.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. increased their price objective on Lowe’s Companies from $280.00 to $283.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday. Finally, Royal Bank Of Canada increased their price target on shares of Lowe’s Companies from $243.00 to $260.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 21st. Seventeen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $285.50.

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.