Berkshire Bank Increases Stock Holdings in Lowe’s Companies, Inc. $LOW

Berkshire Bank increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,075 shares of the home improvement retailer’s stock after buying an additional 126 shares during the period. Berkshire Bank’s holdings in Lowe’s Companies were worth $682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in Lowe’s Companies in the 1st quarter valued at $681,215,000. Pacer Advisors Inc. lifted its holdings 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 purchasing an additional 1,971,996 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Lowe’s Companies by 26,796.0% in the 1st quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock valued at $386,540,000 after purchasing an additional 1,651,170 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Lowe’s Companies by 1,048.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer’s stock valued at $172,527,000 after purchasing an additional 675,318 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Lowe’s Companies in the 4th quarter valued at $159,029,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling

In other news, EVP Joseph Michael Mcfarland sold 43,810 shares of the business’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 completion of the transaction, the executive vice president directly owned 66,566 shares of the company’s stock, valued at approximately $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was 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 of the company’s stock, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,931 shares of company stock valued at $24,945,752. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LOW shares. JPMorgan Chase & Co. raised their price objective on Lowe’s Companies from $280.00 to $283.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Stifel Nicolaus raised their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a report on Monday, August 18th. Gordon Haskett upgraded Lowe’s Companies to a “hold” rating in a report on Wednesday, August 13th. Wells Fargo & Company raised their price objective on Lowe’s Companies from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Finally, UBS Group lifted their price target on Lowe’s Companies from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $284.13.

Lowe’s Companies Price Performance

NYSE LOW opened at $270.92 on Wednesday. The company has a market cap of $151.94 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.52 and a beta of 0.87. The stock has a 50-day moving average of $245.15 and a two-hundred day moving average of $232.06. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.09. The company had revenue of $23.96 billion during the quarter, compared to the consensus estimate of $23.99 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.Lowe’s Companies’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders 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 dividend yield of 0.0%. Lowe’s Companies’s payout ratio is currently 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.