Banque Pictet & Cie SA Lowers Stock Holdings in Lowe’s Companies, Inc. $LOW

Banque Pictet & Cie SA decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.1% during the second quarter, Holdings Channel reports. The institutional investor owned 43,167 shares of the home improvement retailer’s stock after selling 5,935 shares during the period. Banque Pictet & Cie SA’s holdings in Lowe’s Companies were worth $9,577,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LOW. Brighton Jones LLC lifted its stake 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 buying an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Lowe’s Companies by 31.6% in 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. Park Square Financial Group LLC bought a new stake in Lowe’s Companies in the 4th quarter valued at $45,000. Wood Tarver Financial Group LLC bought a new stake in Lowe’s Companies in the 4th quarter valued at $25,000. Finally, Mascagni Wealth Management Inc. bought a new stake in Lowe’s Companies in the 4th quarter valued at $67,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.6%

Lowe’s Companies stock opened at $255.71 on Friday. The company’s 50-day moving average price is $250.85 and its 200-day moving average price is $233.07. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The company has a market cap of $143.41 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 2.38 and a beta of 0.87.

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

Lowe’s Companies Cuts Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LOW. Barclays set a $267.00 price target on shares of Lowe’s Companies in a report on Thursday, August 21st. Gordon Haskett upgraded shares of Lowe’s Companies to a “hold” rating in a report on Wednesday, August 13th. 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 report on Thursday, August 21st. Guggenheim reiterated a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a report on Thursday, August 21st. Finally, KeyCorp lifted their price target on shares of Lowe’s Companies from $266.00 to $300.00 and gave the company an “overweight” rating in a 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 company. According to MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $285.50.

Insider Activity

In related news, EVP Juliette Williams Pryor sold 929 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total transaction of $238,938.80. Following the transaction, the executive vice president directly owned 30,099 shares in the company, valued at approximately $7,741,462.80. This represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the transaction, the executive vice president owned 66,566 shares in the company, valued at $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is currently 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.