Clear Harbor Asset Management LLC Trims Position in Lowe’s Companies, Inc. $LOW

Clear Harbor Asset Management LLC lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.5% in the second quarter, HoldingsChannel.com reports. The fund owned 6,295 shares of the home improvement retailer’s stock after selling 225 shares during the period. Clear Harbor Asset Management LLC’s holdings in Lowe’s Companies were worth $1,397,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of LOW. Brighton Jones LLC boosted its position in shares of Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after acquiring an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Lowe’s Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after acquiring an additional 259 shares during the last quarter. Putney Financial Group LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $49,000. Ascent Group LLC boosted its position in shares of Lowe’s Companies by 3.7% during the 4th quarter. Ascent Group LLC now owns 4,322 shares of the home improvement retailer’s stock valued at $1,067,000 after acquiring an additional 153 shares during the last quarter. Finally, Garde Capital Inc. boosted its position in shares of Lowe’s Companies by 31.5% during the 4th quarter. Garde Capital Inc. now owns 584 shares of the home improvement retailer’s stock valued at $144,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 1.6%

Shares of Lowe’s Companies stock opened at $260.86 on Tuesday. The company has a market cap of $146.30 billion, a PE ratio of 21.43, a P/E/G ratio of 2.45 and a beta of 0.87. The business has a 50 day moving average of $248.40 and a 200 day moving average of $232.62. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced 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. 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%.The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be issued a $0.012 dividend. The ex-dividend date 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 39.44%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LOW. Wells Fargo & Company lifted their price target on Lowe’s Companies from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Royal Bank Of Canada boosted their target price on Lowe’s Companies from $243.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 21st. Guggenheim restated a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a research report on Thursday, August 21st. Sanford C. Bernstein boosted their target price on Lowe’s Companies from $266.00 to $279.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Finally, Stifel Nicolaus boosted their target price 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $284.88.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the completion of the transaction, the executive vice president owned 30,099 shares in the company, valued at approximately $7,741,462.80. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction on Friday, September 5th. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 92,931 shares of company stock worth $24,945,752 in the last ninety days. 0.27% of the stock is owned by company insiders.

Lowe’s Companies Company 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.