Exchange Capital Management Inc. Sells 81 Shares of Lowe’s Companies, Inc. $LOW

Exchange Capital Management Inc. reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 10,521 shares of the home improvement retailer’s stock after selling 81 shares during the period. Exchange Capital Management Inc.’s holdings in Lowe’s Companies were worth $2,334,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LOW. Nuveen LLC bought a new position in Lowe’s Companies during the first quarter valued at approximately $681,215,000. Pacer Advisors Inc. lifted its stake in Lowe’s Companies by 2,984.6% in the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock worth $475,339,000 after purchasing an additional 1,971,996 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Lowe’s Companies by 1,048.5% during the first quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer’s stock valued at $172,527,000 after buying an additional 675,318 shares during the period. Wellington Management Group LLP grew its position in Lowe’s Companies by 49.0% in the 1st quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer’s stock valued at $438,751,000 after acquiring an additional 618,775 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Lowe’s Companies by 10.6% in the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer’s stock worth $1,214,448,000 after purchasing an additional 501,154 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LOW. Wells Fargo & Company boosted their price objective on shares of Lowe’s Companies from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Sanford C. Bernstein increased their price target 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. DA Davidson raised their price target on Lowe’s Companies from $240.00 to $266.00 and gave the company a “neutral” rating in a research note on Thursday, August 21st. Wolfe Research started coverage on shares of Lowe’s Companies in a report on Wednesday, September 17th. They set an “outperform” rating on the stock. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research note on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus target price of $285.50.

Lowe’s Companies Price Performance

NYSE:LOW opened at $247.32 on Friday. The company’s fifty day moving average price is $253.56 and its 200-day moving average price is $233.92. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The firm has a market capitalization of $138.70 billion, a P/E ratio of 20.32, a PEG ratio of 2.30 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $23.96 billion during the quarter, compared to analysts’ expectations of $23.99 billion. During the same period in the previous year, the business posted $4.10 EPS. The business’s revenue 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 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio is presently 39.44%.

Insiders Place Their Bets

In related news, EVP Brandon J. Sink sold 8,192 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction on 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. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock valued at $24,945,752 over the last 90 days. Company insiders own 0.27% of the company’s stock.

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.