Beacon Pointe Advisors LLC Sells 3,204 Shares of Lowe’s Companies, Inc. $LOW

Beacon Pointe Advisors LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% during the 2nd quarter, Holdings Channel reports. The firm owned 111,358 shares of the home improvement retailer’s stock after selling 3,204 shares during the period. Beacon Pointe Advisors LLC’s holdings in Lowe’s Companies were worth $24,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOW. Vanguard Group Inc. increased its stake in Lowe’s Companies by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock worth $12,197,604,000 after acquiring an additional 366,977 shares during the period. Geode Capital Management LLC lifted its position in shares of Lowe’s Companies by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock valued at $2,732,049,000 after acquiring an additional 42,190 shares during the period. Norges Bank acquired a new stake in shares of Lowe’s Companies during the 2nd quarter worth $1,773,624,000. Invesco Ltd. increased its position in shares of Lowe’s Companies by 10.6% in the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer’s stock worth $1,214,448,000 after purchasing an additional 501,154 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Lowe’s Companies by 6.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer’s stock worth $1,192,213,000 after purchasing an additional 330,701 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Shares of LOW opened at $246.29 on Tuesday. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $280.64. The stock has a market capitalization of $138.12 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 2.21 and a beta of 0.87. The stock has a fifty day moving average of $239.99 and a 200-day moving average of $238.08.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, November 19th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.89 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.250-12.250 EPS. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a yield of 1.9%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.80%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LOW shares. HSBC reduced their price objective on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research note on Friday, November 21st. KeyCorp lifted their price objective on shares of Lowe’s Companies from $266.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Telsey Advisory Group lowered their price objective on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Sanford C. Bernstein upped their target price on Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Finally, Bank of America decreased their price target on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Fifteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $274.63.

Insider Activity

In other Lowe’s Companies news, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the transaction, the executive vice president directly owned 21,603 shares in the company, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the transaction, the executive vice president owned 66,566 shares in the company, valued at $18,145,891.60. The trade was a 39.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.27% of the company’s stock.

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.