Convergence Financial LLC Acquires 250 Shares of Lowe’s Companies, Inc. $LOW

Convergence Financial LLC grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,481 shares of the home improvement retailer’s stock after buying an additional 250 shares during the quarter. Convergence Financial LLC’s holdings in Lowe’s Companies were worth $1,882,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vertex Planning Partners LLC grew its position in shares of Lowe’s Companies by 2.9% during the 1st quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer’s stock worth $369,000 after buying an additional 44 shares during the period. Quadcap Wealth Management LLC grew its position in shares of Lowe’s Companies by 0.5% during the 1st quarter. Quadcap Wealth Management LLC now owns 9,386 shares of the home improvement retailer’s stock worth $2,189,000 after buying an additional 46 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Lowe’s Companies by 0.8% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer’s stock worth $1,357,000 after purchasing an additional 47 shares in the last quarter. Appleton Partners Inc. MA raised its position in shares of Lowe’s Companies by 1.5% during the second quarter. Appleton Partners Inc. MA now owns 3,214 shares of the home improvement retailer’s stock worth $713,000 after purchasing an additional 47 shares during the period. Finally, Fielder Capital Group LLC boosted its holdings in shares of Lowe’s Companies by 5.9% in the first quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer’s stock valued at $202,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of several research reports. Wells Fargo & Company raised their price target on shares of Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Robert W. Baird lifted their target price on Lowe’s Companies from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Thursday, August 21st. Citigroup lowered their price target on shares of Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating on the stock in a research report on Thursday, July 31st. Finally, Guggenheim reissued a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a report on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given 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 $282.59.

Insider Transactions at Lowe’s Companies

In related news, EVP Brandon J. Sink sold 8,192 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the sale, the executive vice president directly 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 is available in the SEC filing. Over the last ninety days, insiders sold 92,931 shares of company stock worth $24,945,752. 0.27% of the stock is owned by corporate insiders.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $237.80 on Wednesday. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $280.64. The stock has a market capitalization of $133.36 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.21 and a beta of 0.88. The company’s 50 day simple moving average is $252.17 and its 200 day simple moving average is $236.78.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The business had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same period last year, the firm posted $4.10 earnings per share. Lowe’s Companies’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. As a group, analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders 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 dividend yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s payout ratio is 39.44%.

Lowe’s Companies 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.