Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Sound Income Strategies LLC

14 Oct 2024, 10:58 by Danessa Lincoln · The Markets Daily

Sound Income Strategies LLC decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 13.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,336 shares of the home improvement retailer’s stock after selling 208 shares during the period. Sound Income Strategies LLC’s holdings in Lowe’s Companies were worth $362,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies during the fourth quarter valued at $28,000. Transcendent Capital Group LLC acquired a new position in shares of Lowe’s Companies during the 4th quarter worth about $31,000. Stephens Consulting LLC lifted its stake in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. Keener Financial Planning LLC acquired a new stake in Lowe’s Companies in the 1st quarter worth about $35,000. Finally, Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LOW. Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their target price for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Piper Sandler lifted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Evercore ISI raised their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Finally, Morgan Stanley raised their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $266.88.

View Our Latest Stock Report on Lowe’s Companies

Lowe’s Companies Trading Up 0.9 %

Shares of LOW opened at $275.76 on Monday. The stock’s 50 day moving average is $252.80 and its two-hundred day moving average is $237.58. The firm has a market capitalization of $157.14 billion, a PE ratio of 22.15, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $278.10.

Lowe’s Companies (NYSE:LOW – Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the business posted $4.56 EPS. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.67%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is presently 36.95%.

Insider Buying and Selling at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Company Profile

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