Oppenheimer Asset Management Inc. Trims Stock Position in Lowe’s Companies, Inc. $LOW

Oppenheimer Asset Management Inc. cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,450 shares of the home improvement retailer’s stock after selling 472 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Lowe’s Companies were worth $34,268,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LOW. Fairway Wealth LLC purchased a new position in Lowe’s Companies during the first quarter worth about $32,000. Olistico Wealth LLC purchased a new position in Lowe’s Companies during the second quarter worth about $33,000. TruNorth Capital Management LLC purchased a new position in Lowe’s Companies during the first quarter worth about $38,000. JNBA Financial Advisors raised its stake in Lowe’s Companies by 147.1% during the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer’s stock worth $39,000 after purchasing an additional 100 shares during the period. Finally, Vista Cima Wealth Management LLC purchased a new position in Lowe’s Companies during the first quarter worth about $44,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $243.06 on Friday. The stock has a market capitalization of $136.31 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 2.25 and a beta of 0.88. The company has a 50 day moving average price of $254.64 and a 200 day moving average price of $235.63. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $280.64.

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 for the quarter, beating 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 business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business 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 forecast that Lowe’s Companies, Inc. will post 11.9 EPS 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. Shareholders of record on Wednesday, October 22nd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s payout ratio is 39.44%.

Insider Activity

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 40,000 shares of the business’s stock in a transaction that occurred 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 $65,772,256.30. The trade was a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Juliette Williams Pryor sold 929 shares of the business’s stock in a transaction that occurred 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 $7,741,462.80. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,931 shares of company stock worth $24,945,752. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

LOW has been the topic of a number of analyst reports. Robert W. Baird lifted their target price on shares of Lowe’s Companies from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research report on Thursday, August 21st. UBS Group lifted their price target on shares of Lowe’s Companies from $300.00 to $325.00 and gave the company a “buy” rating in a research 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 research report on Thursday, August 21st. Finally, Piper Sandler lifted their price target on shares of Lowe’s Companies from $269.00 to $294.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $282.91.

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.