Lowe’s Companies, Inc. $LOW Shares Sold by State of Michigan Retirement System

by · The Markets Daily

State of Michigan Retirement System trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 152,170 shares of the home improvement retailer’s stock after selling 1,000 shares during the period. State of Michigan Retirement System’s holdings in Lowe’s Companies were worth $33,762,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. iA Global Asset Management Inc. increased its holdings in shares of Lowe’s Companies by 8.8% during the second quarter. iA Global Asset Management Inc. now owns 69,263 shares of the home improvement retailer’s stock valued at $15,367,000 after purchasing an additional 5,611 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its holdings in shares of Lowe’s Companies by 27.4% during the second quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,944 shares of the home improvement retailer’s stock valued at $875,000 after purchasing an additional 848 shares during the period. Triglav Investments D.O.O. increased its holdings in shares of Lowe’s Companies by 2.9% during the second quarter. Triglav Investments D.O.O. now owns 55,925 shares of the home improvement retailer’s stock valued at $12,408,000 after purchasing an additional 1,550 shares during the period. Plato Investment Management Ltd increased its holdings in shares of Lowe’s Companies by 76.2% during the second quarter. Plato Investment Management Ltd now owns 13,156 shares of the home improvement retailer’s stock valued at $2,908,000 after purchasing an additional 5,691 shares during the period. Finally, Frederick Financial Consultants LLC grew its holdings in Lowe’s Companies by 6.0% during the second quarter. Frederick Financial Consultants LLC now owns 1,232 shares of the home improvement retailer’s stock worth $273,000 after acquiring an additional 70 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Marvin R. Ellison sold 40,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total value of $10,564,000.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction on 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 transaction, the executive vice president owned 30,099 shares of the company’s stock, valued at $7,741,462.80. This trade represents a 2.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 92,931 shares of company stock worth $24,945,752. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Evercore ISI lowered their target price on Lowe’s Companies from $250.00 to $245.00 and set an “in-line” rating on the stock in a report on Tuesday, October 14th. UBS Group lifted their target price on Lowe’s Companies from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Wells Fargo & Company lifted their target price on Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Sanford C. Bernstein lifted their target price on Lowe’s Companies from $266.00 to $279.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Finally, DA Davidson lifted their target price on Lowe’s Companies from $240.00 to $266.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus price target of $282.59.

Check Out Our Latest Research Report on LOW

Lowe’s Companies Stock Down 0.6%

NYSE:LOW opened at $238.29 on Friday. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $280.64. The firm has a market capitalization of $133.64 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 2.21 and a beta of 0.88. The stock has a fifty day simple moving average of $253.05 and a 200 day simple moving average of $236.38.

Lowe’s Companies (NYSE:LOW – Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share 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 business had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. During the same quarter last year, the company posted $4.10 EPS. Lowe’s Companies’s revenue for the quarter 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. Equities analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a $1.20 dividend. The ex-dividend date is 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%.

About Lowe’s Companies

(Free Report)

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.

See Also

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