DAVENPORT & Co LLC Has $117.73 Million Holdings in Lowe’s Companies, Inc. $LOW

DAVENPORT & Co LLC grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 16.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 529,916 shares of the home improvement retailer’s stock after acquiring an additional 72,923 shares during the period. DAVENPORT & Co LLC owned 0.09% of Lowe’s Companies worth $117,726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC lifted its holdings in 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 worth $7,889,000 after buying an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Lowe’s Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after acquiring an additional 259 shares during the last quarter. Bank of New Hampshire lifted its stake in shares of Lowe’s Companies by 2.1% during the first quarter. Bank of New Hampshire now owns 14,769 shares of the home improvement retailer’s stock valued at $3,445,000 after acquiring an additional 300 shares during the period. KMG Fiduciary Partners LLC boosted its holdings in Lowe’s Companies by 5.9% in the first quarter. KMG Fiduciary Partners LLC now owns 38,450 shares of the home improvement retailer’s stock valued at $8,968,000 after acquiring an additional 2,156 shares during the last quarter. Finally, Wynn Capital LLC increased its position in Lowe’s Companies by 1.9% in the first quarter. Wynn Capital LLC now owns 3,674 shares of the home improvement retailer’s stock worth $857,000 after purchasing an additional 70 shares during the period. 74.06% of the stock is owned by institutional investors.

Insider Activity at Lowe’s Companies

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value 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. This represents a 39.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Juliette Williams Pryor sold 929 shares of Lowe’s Companies stock in a transaction dated 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 directly owned 30,099 shares in the company, valued at $7,741,462.80. This represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock worth $24,945,752 over the last ninety days. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LOW. Mizuho upped their target price on shares of Lowe’s Companies from $280.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Gordon Haskett upgraded shares of Lowe’s Companies to a “hold” rating in a report on Wednesday, August 13th. Barclays set a $267.00 price objective on shares of Lowe’s Companies in a research note on Thursday, August 21st. DA Davidson upped their target price on shares of Lowe’s Companies from $240.00 to $266.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Thursday, August 21st. Seventeen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.50.

Lowe’s Companies Stock Down 0.4%

LOW opened at $246.24 on Monday. The stock has a market cap of $138.10 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.28 and a beta of 0.88. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The company has a fifty day simple moving average of $253.95 and a 200 day simple moving average of $234.20.

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 analysts’ consensus estimates of $4.24 by $0.09. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.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 firm earned $4.10 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be issued a dividend of $1.20 per share. 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 (DPR) is 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.