Econ Financial Services Corp Acquires 3,638 Shares of Lowe’s Companies, Inc. $LOW

Econ Financial Services Corp increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 44.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,833 shares of the home improvement retailer’s stock after acquiring an additional 3,638 shares during the quarter. Lowe’s Companies comprises approximately 1.4% of Econ Financial Services Corp’s investment portfolio, making the stock its 20th biggest holding. Econ Financial Services Corp’s holdings in Lowe’s Companies were worth $2,625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Lowe’s Companies by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer’s stock worth $12,736,545,000 after acquiring an additional 230,359 shares during the last quarter. Invesco Ltd. boosted its stake in Lowe’s Companies by 10.6% during the 1st quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer’s stock worth $1,214,448,000 after acquiring an additional 501,154 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Lowe’s Companies by 6.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer’s stock worth $1,192,213,000 after acquiring an additional 330,701 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Lowe’s Companies by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,779,120 shares of the home improvement retailer’s stock worth $881,406,000 after acquiring an additional 225,964 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Lowe’s Companies by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,501,740 shares of the home improvement retailer’s stock worth $816,711,000 after acquiring an additional 42,676 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Brandon J. Sink sold 8,192 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $268.58, for a total value of $2,200,207.36. Following the transaction, the executive vice president directly owned 21,603 shares in the company, valued at $5,802,133.74. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the executive vice president owned 66,566 shares in the company, valued at approximately $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 92,931 shares of company stock valued at $24,945,752 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on LOW shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Lowe’s Companies in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Monday, August 18th. Wolfe Research started coverage on shares of Lowe’s Companies in a research note on Wednesday, September 17th. They issued an “outperform” rating on the stock. Evercore ISI cut their price target on shares of Lowe’s Companies from $250.00 to $245.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 14th. Finally, Gordon Haskett raised shares of Lowe’s Companies to a “hold” rating in a research note on Wednesday, August 13th. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $282.59.

Lowe’s Companies Stock Up 0.2%

NYSE LOW opened at $244.19 on Wednesday. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $280.64. The company has a market capitalization of $136.95 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The firm’s 50 day moving average is $254.26 and its 200-day moving average is $236.02.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. During the same period last year, the company earned $4.10 earnings per share. The firm’s 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. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

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 issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s payout ratio is currently 39.44%.

Lowe’s Companies 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.