Alta Capital Management LLC Raises Stock Position in Lowe’s Companies, Inc. $LOW

Alta Capital Management LLC boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 71,608 shares of the home improvement retailer’s stock after purchasing an additional 7,600 shares during the period. Alta Capital Management LLC’s holdings in Lowe’s Companies were worth $15,888,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Uptick Partners LLC grew its stake in Lowe’s Companies by 39.1% during the second quarter. Uptick Partners LLC now owns 1,983 shares of the home improvement retailer’s stock valued at $440,000 after acquiring an additional 557 shares in the last quarter. Prairie Sky Financial Group LLC purchased a new position in Lowe’s Companies during the second quarter valued at approximately $342,000. Rosenberg Matthew Hamilton grew its stake in Lowe’s Companies by 25.1% during the second quarter. Rosenberg Matthew Hamilton now owns 1,797 shares of the home improvement retailer’s stock valued at $399,000 after acquiring an additional 360 shares in the last quarter. Capital Management Corp VA grew its stake in Lowe’s Companies by 6.7% in the 2nd quarter. Capital Management Corp VA now owns 36,103 shares of the home improvement retailer’s stock worth $8,010,000 after buying an additional 2,272 shares in the last quarter. Finally, Mutual Advisors LLC grew its stake in Lowe’s Companies by 1.3% in the 2nd quarter. Mutual Advisors LLC now owns 13,220 shares of the home improvement retailer’s stock worth $2,998,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity

In related 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 transaction of $11,942,606.00. Following the completion of the sale, the executive vice president directly owned 66,566 shares in the company, valued at $18,145,891.60. This represents a 39.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 sale, the executive vice president owned 30,099 shares of the company’s stock, valued at $7,741,462.80. This represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is owned by corporate insiders.

Lowe’s Companies Stock Performance

Shares of LOW opened at $241.76 on Thursday. The firm has a market cap of $135.59 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.23 and a beta of 0.88. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $285.24. The firm has a 50 day moving average price of $255.05 and a 200-day moving average price of $234.55.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.09. The firm 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 business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio is currently 39.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LOW shares. KeyCorp boosted their price target on shares of Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Piper Sandler boosted their price target on shares of Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Robert W. Baird boosted their price target on shares of Lowe’s Companies from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Oppenheimer boosted their price target on shares of Lowe’s Companies from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, September 25th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $282.91.

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.