NorthCrest Asset Manangement LLC Has $22.33 Million Stock Position in Lowe’s Companies, Inc. $LOW

NorthCrest Asset Manangement LLC reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,822 shares of the home improvement retailer’s stock after selling 83 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Lowe’s Companies were worth $22,334,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LOW. Brighton Jones LLC grew its holdings in shares of Lowe’s Companies by 119.7% during the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after buying an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Lowe’s Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after buying an additional 259 shares during the last quarter. State of Wyoming grew its holdings in shares of Lowe’s Companies by 677.1% during the fourth quarter. State of Wyoming now owns 1,088 shares of the home improvement retailer’s stock valued at $269,000 after buying an additional 948 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Lowe’s Companies by 24.7% during the fourth quarter. Two Sigma Advisers LP now owns 42,900 shares of the home improvement retailer’s stock valued at $10,588,000 after buying an additional 8,500 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at about $8,408,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’s 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. This represents a 39.69% decrease in their position. The sale 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 the company’s 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 $7,741,462.80. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock worth $24,945,752 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies Price Performance

LOW stock opened at $268.04 on Thursday. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year high of $287.01. The stock has a market cap of $150.32 billion, a PE ratio of 22.02, a P/E/G ratio of 2.50 and a beta of 0.87. The firm has a 50 day simple moving average of $246.01 and a two-hundred day simple moving average of $232.31.

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 business had revenue of $23.96 billion during the quarter, compared to analysts’ expectations of $23.99 billion. During the same quarter in the previous year, the company earned $4.10 EPS. The business’s quarterly 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. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be paid a $0.012 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.0%. Lowe’s Companies’s dividend payout ratio is 39.44%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on LOW shares. 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 report on Thursday, August 21st. Sanford C. Bernstein boosted their price target on shares of Lowe’s Companies from $266.00 to $279.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Mizuho lifted their price objective on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Piper Sandler lifted their price objective on shares of Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.13.

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.