Glenview Trust co Buys 17,653 Shares of Lowe’s Companies, Inc. $LOW

Glenview Trust co grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 12.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,234 shares of the home improvement retailer’s stock after acquiring an additional 17,653 shares during the period. Lowe’s Companies accounts for 0.7% of Glenview Trust co’s holdings, making the stock its 29th biggest holding. Glenview Trust co’s holdings in Lowe’s Companies were worth $38,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. SageView Advisory Group LLC grew its stake in Lowe’s Companies by 2.3% in the 1st quarter. SageView Advisory Group LLC now owns 7,193 shares of the home improvement retailer’s stock worth $1,677,000 after acquiring an additional 162 shares in the last quarter. SCS Capital Management LLC bought a new position in Lowe’s Companies in the 1st quarter worth about $714,000. Optimize Financial Inc grew its stake in Lowe’s Companies by 34.8% in the 1st quarter. Optimize Financial Inc now owns 2,916 shares of the home improvement retailer’s stock worth $680,000 after acquiring an additional 753 shares in the last quarter. Woodline Partners LP grew its stake in Lowe’s Companies by 40.0% in the 1st quarter. Woodline Partners LP now owns 47,704 shares of the home improvement retailer’s stock worth $11,126,000 after acquiring an additional 13,636 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Lowe’s Companies by 33.2% in the 1st quarter. Empowered Funds LLC now owns 54,922 shares of the home improvement retailer’s stock worth $12,809,000 after acquiring an additional 13,677 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on LOW. Sanford C. Bernstein upped their target price on shares of Lowe’s Companies from $266.00 to $279.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Stifel Nicolaus increased their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Monday, August 18th. JPMorgan Chase & Co. increased their price objective on shares of Lowe’s Companies from $280.00 to $283.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. UBS Group increased their price objective on shares of Lowe’s Companies from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Finally, Royal Bank Of Canada increased their price objective on shares of Lowe’s Companies from $243.00 to $260.00 and gave the company a “sector perform” rating in a research note on Thursday, August 21st. Sixteen 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. According to data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $284.13.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Brandon J. Sink sold 8,192 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were 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 of the company’s stock, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was 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 directly owned 249,043 shares of the company’s stock, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,121 shares of company stock valued at $13,003,146 over the last 90 days. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Down 1.3%

NYSE:LOW opened at $269.42 on Wednesday. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The firm has a 50 day moving average of $240.70 and a 200 day moving average of $231.14. The stock has a market capitalization of $151.10 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.53 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.09. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The company had revenue of $23.96 billion during the quarter, compared to analysts’ expectations of $23.99 billion. During the same quarter in the prior year, the company posted $4.10 earnings per share. Lowe’s Companies’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. As a group, analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $0.012 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $0.05 dividend on an annualized basis and a yield of 0.0%. Lowe’s Companies’s dividend payout ratio is presently 39.44%.

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.