Kentucky Retirement Systems Sells 3,420 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

16 Nov 2024, 15:23 by Mitch Edgeman · The Markets Daily

Kentucky Retirement Systems trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,698 shares of the home improvement retailer’s stock after selling 3,420 shares during the period. Kentucky Retirement Systems’ holdings in Lowe’s Companies were worth $10,752,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Stephens Consulting LLC lifted its holdings in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the last quarter. JNBA Financial Advisors raised its position in Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. MFA Wealth Advisors LLC raised its position in Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares in the last quarter. Kimelman & Baird LLC bought a new stake in Lowe’s Companies during the second quarter worth about $37,000. Finally, Tsfg LLC increased its position in shares of Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 100 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

LOW stock opened at $269.40 on Friday. The firm has a 50 day moving average price of $267.19 and a 200-day moving average price of $243.51. Lowe’s Companies, Inc. has a 52-week low of $196.23 and a 52-week high of $287.01. The firm has a market capitalization of $152.83 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW – Get Free Report) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the previous year, the company posted $4.56 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.14%.

Insiders Place Their Bets

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. UBS Group boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and upped their price objective for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Stifel Nicolaus lifted their target price on shares of Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Melius Research assumed coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. Finally, TD Cowen raised their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.84.

Check Out Our Latest Analysis on LOW

Lowe’s Companies Profile

(Free Report)