Mcrae Capital Management Inc. Sells 915 Shares of Lowe’s Companies, Inc. $LOW

Mcrae Capital Management Inc. reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 89,196 shares of the home improvement retailer’s stock after selling 915 shares during the quarter. Lowe’s Companies makes up 4.1% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 7th largest holding. Mcrae Capital Management Inc.’s holdings in Lowe’s Companies were worth $19,790,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Solstein Capital LLC grew its stake in Lowe’s Companies by 627.8% in the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 113 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of Lowe’s Companies in the second quarter valued at about $33,000. TruNorth Capital Management LLC bought a new position in shares of Lowe’s Companies in the first quarter worth about $38,000. Barnes Dennig Private Wealth Management LLC lifted its position in shares of Lowe’s Companies by 101.0% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 193 shares of the home improvement retailer’s stock worth $43,000 after purchasing an additional 97 shares during the last quarter. Finally, Vista Cima Wealth Management LLC bought a new stake in Lowe’s Companies during the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $231.39 on Friday. The business has a 50 day simple moving average of $251.16 and a 200 day simple moving average of $236.73. The company has a market capitalization of $129.77 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year high of $280.64.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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 period in the prior year, the company posted $4.10 earnings per share. The business’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. Equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, October 22nd. This represents a $4.80 annualized dividend and a dividend yield of 2.1%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.44%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup cut their price target on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating for the company in a report on Thursday, July 31st. Guggenheim reissued a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a report on Thursday, August 21st. Wolfe Research initiated coverage on shares of Lowe’s Companies in a report on Wednesday, September 17th. They set an “outperform” rating on the stock. Piper Sandler lifted their target price 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, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a report on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.59.

Insiders Place Their Bets

In other Lowe’s Companies news, 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 completion of the sale, the executive vice president owned 30,099 shares in the company, valued at approximately $7,741,462.80. This trade represents a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the sale, the executive vice president directly owned 21,603 shares in the company, valued at $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 92,931 shares of company stock worth $24,945,752. 0.27% of the stock is owned by company 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.