Pittenger & Anderson Inc. Decreases Stock Position in Lowe’s Companies, Inc. $LOW

Pittenger & Anderson Inc. lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 72,826 shares of the home improvement retailer’s stock after selling 4,368 shares during the period. Pittenger & Anderson Inc.’s holdings in Lowe’s Companies were worth $16,158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC bought a new position in Lowe’s Companies in the 1st quarter valued at $681,215,000. Pacer Advisors Inc. grew its position in Lowe’s Companies by 2,984.6% in the 1st quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock valued at $475,339,000 after acquiring an additional 1,971,996 shares during the last quarter. Wellington Management Group LLP grew its position in Lowe’s Companies by 49.0% in the 1st quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer’s stock valued at $438,751,000 after acquiring an additional 618,775 shares during the last quarter. Invesco Ltd. grew its position in Lowe’s Companies by 10.6% in the 1st quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer’s stock valued at $1,214,448,000 after acquiring an additional 501,154 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Lowe’s Companies by 6.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer’s stock valued at $1,192,213,000 after acquiring an additional 330,701 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the sale, the executive vice president owned 66,566 shares of the company’s stock, valued at $18,145,891.60. This trade represents a 39.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Juliette Williams Pryor sold 929 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total value of $238,938.80. Following the sale, the executive vice president directly owned 30,099 shares in the company, valued at approximately $7,741,462.80. The trade was a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock worth $24,945,752 in the last three months. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on LOW. Robert W. Baird upped their price objective on Lowe’s Companies from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Guggenheim reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, August 21st. Royal Bank Of Canada upped their price objective on Lowe’s Companies from $243.00 to $260.00 and gave the company a “sector perform” rating in a research report on Thursday, August 21st. Piper Sandler increased their price target on Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Finally, Stifel Nicolaus increased their price target on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research report on Monday, August 18th. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $282.91.

Lowe’s Companies Trading Down 0.9%

LOW opened at $242.50 on Tuesday. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $282.70. The business’s fifty day simple moving average is $255.26 and its 200-day simple moving average is $234.91. The company has a market capitalization of $136.00 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 2.27 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, beating 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 company had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. During the same quarter last year, the company earned $4.10 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS 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 2.0%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.44%.

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.