Lowe’s Companies, Inc. $LOW Shares Purchased by SouthState Corp

SouthState Corp boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 10.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,576 shares of the home improvement retailer’s stock after buying an additional 2,409 shares during the quarter. SouthState Corp’s holdings in Lowe’s Companies were worth $5,453,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Solstein Capital LLC grew its position in Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after buying an additional 113 shares during the last quarter. Olistico Wealth LLC acquired a new position in Lowe’s Companies in the second quarter worth approximately $33,000. TruNorth Capital Management LLC acquired a new position in Lowe’s Companies in the first quarter worth approximately $38,000. Barnes Dennig Private Wealth Management LLC grew its position in Lowe’s Companies by 101.0% in the second quarter. Barnes Dennig Private Wealth Management LLC now owns 193 shares of the home improvement retailer’s stock worth $43,000 after buying an additional 97 shares during the last quarter. Finally, Vista Cima Wealth Management LLC purchased a new position in Lowe’s Companies during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 1.4%

Shares of NYSE:LOW opened at $234.42 on Thursday. The firm has a fifty day moving average of $251.69 and a two-hundred day moving average of $236.76. The firm has a market capitalization of $131.47 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $280.64.

Lowe’s Companies (NYSE:LOW) last issued 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. The company had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. Lowe’s Companies’s dividend payout ratio (DPR) is 39.44%.

Insider Activity at Lowe’s Companies

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of Lowe’s Companies 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 sale, the executive vice president owned 66,566 shares of the company’s stock, valued at approximately $18,145,891.60. The trade was a 39.69% decrease in their position. The transaction 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 on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total transaction of $238,938.80. Following the completion of the sale, the executive vice president directly owned 30,099 shares of the company’s stock, valued at approximately $7,741,462.80. The trade was a 2.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 92,931 shares of company stock worth $24,945,752. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Truist Financial lifted their price objective on shares of Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Wells Fargo & Company lifted their price objective on shares of Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. lifted their price objective on shares of Lowe’s Companies from $280.00 to $283.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Citigroup lowered their price objective 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, Barclays set a $267.00 price objective on shares of Lowe’s Companies in a research 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.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $282.59.

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.