Sigma Planning Corp Trims Stake in Lowe’s Companies, Inc. $LOW

Sigma Planning Corp decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.6% during the second quarter, Holdings Channel reports. The fund owned 16,790 shares of the home improvement retailer’s stock after selling 1,193 shares during the period. Sigma Planning Corp’s holdings in Lowe’s Companies were worth $3,725,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LOW. Nuveen LLC purchased a new stake in shares of Lowe’s Companies in the 1st quarter worth approximately $681,215,000. Pacer Advisors Inc. grew its stake in shares of 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 worth $475,339,000 after buying an additional 1,971,996 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of 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 worth $438,751,000 after buying an additional 618,775 shares during the last quarter. Invesco Ltd. grew its stake in shares of Lowe’s Companies by 10.6% in the 1st quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer’s stock worth $1,214,448,000 after buying an additional 501,154 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Lowe’s Companies by 6.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer’s stock worth $1,192,213,000 after buying an additional 330,701 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group upped their price target on Lowe’s Companies from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Mizuho upped their price objective on Lowe’s Companies from $280.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lowe’s Companies in a research report on Wednesday, October 8th. Barclays set a $267.00 price objective on Lowe’s Companies in a research report on Thursday, August 21st. Finally, Piper Sandler upped their price objective on Lowe’s Companies from $269.00 to $294.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $282.59.

Lowe’s Companies Price Performance

NYSE LOW opened at $235.64 on Tuesday. The business’s fifty day moving average price is $252.59 and its 200-day moving average price is $236.65. The stock has a market capitalization of $132.15 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.21 and a beta of 0.88. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $280.64.

Lowe’s Companies (NYSE:LOW) last released its quarterly 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 firm had revenue of $23.96 billion for the quarter, compared to analysts’ expectations of $23.99 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a yield of 2.0%. Lowe’s Companies’s payout ratio is 39.44%.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 929 shares of Lowe’s Companies stock in a transaction on Tuesday, August 26th. The stock was 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. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of Lowe’s Companies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the transaction, the chief executive officer owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 92,931 shares of company stock valued at $24,945,752 over the last three months. 0.27% of the stock is currently 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.