Triton Wealth Management PLLC Invests $510,000 in Lowe’s Companies, Inc. $LOW

Triton Wealth Management PLLC acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 2nd quarter, Holdings Channel reports. The fund acquired 2,263 shares of the home improvement retailer’s stock, valued at approximately $510,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SeaBridge Investment Advisors LLC raised its position in shares of Lowe’s Companies by 3.7% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock valued at $2,859,000 after purchasing an additional 465 shares during the period. State of Alaska Department of Revenue raised its position in shares of Lowe’s Companies by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer’s stock valued at $29,223,000 after purchasing an additional 1,470 shares during the period. Larson Financial Group LLC raised its position in shares of Lowe’s Companies by 8.1% during the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock valued at $3,860,000 after purchasing an additional 1,242 shares during the period. Advent Capital Management DE increased its holdings in Lowe’s Companies by 20.0% in the 1st quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock valued at $4,198,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Cornerstone Wealth Group LLC increased its holdings in Lowe’s Companies by 12.6% in the 1st quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer’s stock valued at $6,848,000 after acquiring an additional 3,295 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of research reports. DA Davidson lifted their price target on shares of Lowe’s Companies from $240.00 to $266.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. KeyCorp lifted their price target on shares of Lowe’s Companies from $266.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Truist Financial lifted their price target on shares of Lowe’s Companies from $264.00 to $283.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lowe’s Companies in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Lowe’s Companies from $243.00 to $260.00 and gave the company a “sector perform” rating in a report on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $282.91.

Lowe’s Companies Trading Up 2.7%

LOW stock opened at $240.86 on Wednesday. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The company has a 50-day moving average price of $254.98 and a 200 day moving average price of $234.50. The stock has a market cap of $135.08 billion, a PE ratio of 19.79, a P/E/G ratio of 2.17 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, topping analysts’ consensus estimates 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 company earned $4.10 EPS. The firm’s revenue for the quarter 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. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

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

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 40,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 249,043 shares of the company’s stock, valued at $65,772,256.30. The trade was a 13.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brandon J. Sink sold 8,192 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the sale, the executive vice president directly owned 21,603 shares of the company’s stock, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock valued at $24,945,752 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

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.