On September 18, 2023, it was reported that Buckley Wealth Management LLC has increased its position in Lowe’s Companies, Inc. (NYSE:LOW) during the second quarter of the year. According to the disclosure submitted to the SEC, the institutional investor now owns 11,143 shares of the home improvement retailer’s stock, a 12.0% increase from its previous holdings. This addition of shares resulted in Lowe’s Companies accounting for approximately 0.9% of Buckley Wealth Management LLC’s investment portfolio, making it their 23rd largest holding. The value of Buckley Wealth Management LLC’s holdings in Lowe’s Companies reached $2,515,000 by the end of the most recent reporting period.
Lowe’s Companies recently released their quarterly earnings data on August 22nd, supporting analyst expectations with an EPS (earnings per share) of $4.56 for the quarter. This exceeded consensus estimates by $0.07 per share. The company reported revenue of $24.96 billion for the same period, slightly below analyst estimates of $24.97 billion.Conversely,the firm experienced a decline in quarterly revenue by 9.2% compared to the previous year.
Analysts have shared their opinions on LOW shares following this earnings release and subsequent news.The Loop Capital research note increased their price objective from $215.00 to $225.00 while maintaining a “hold” rating on Lowe’s Companies stock.On Thursday,August 24th StockNews.com upgraded shares from a “hold” rating to a “buy” rating.ADA Davidson also raised their price target to $237 from $228 with Telsey Advisory Group maintaining a “market perform” rating and setting their own price target at $230 despite upward revisions.Finally,Piper Sandler raised its price target significantly from $230 to $262 and rated Lowe’s Companies as “overweight”. In total,two analysts rated the stock as “sell”, twelve rated it as “hold”, and fourteen gave it a “buy” rating.The consensus price target for Lowe’s Companies from Bloomberg.com stands at $237.48 currently.
As the year moves forward, analysts anticipate that Lowe’s Companies, Inc. will post earnings per share of 13.45 for the current year, based on their forecasts.
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Hedge Funds and Institutional Investors Eye Lowe’s Companies as Insider Sales Raise Questions
On September 18, 2023, it was reported that various hedge funds and institutional investors have been actively involved in buying and selling shares of Lowe’s Companies. Among them, Missouri Trust & Investment Co increased its stake in the home improvement retailer by 1.5% during the fourth quarter, acquiring an additional 50 shares valued at $669,000. Key Client Fiduciary Advisors LLC also grew its stake by 2.5% during the same period, purchasing 50 additional shares worth $409,000. Similarly, Legacy Financial Advisors Inc. and Summit X LLC both expanded their stakes in Lowe’s Companies by 2.6% and 3.6% respectively during the first quarter. Lastly, Transform Wealth LLC raised its stake by a mere 0.3% to acquire an additional 51 shares valued at $3,386,000.
It is interesting to note that approximately 71.88% of Lowe’s Companies stock is currently owned by institutional investors and hedge funds—a significant percentage indicating active involvement in the company’s affairs.
In other news related to Lowe’s Companies, two executive vice presidents—Janice Dupre and Joseph Michael Mcfarland—have recently sold substantial amounts of the firm’s stock. On August 31st, Dupre sold 5,380 shares at an average price of $231.28 each for a total value of $1,244,286.40. Following this transaction, Dupre retained ownership of 24,216 shares valued at $5,600,676.48.
Similarly on August 28th, Mcfarland also sold 4,500 shares of Lowe’s Companies stock at an average price of $222.53 each—an approximate total value of $1,0014 million—leaving him with ownership of approximately46 ,594 shares equivalent to about $10.
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These insider transactions were disclosed through legal filings with the U.S. Security and Exchange Commission (SEC). More details about these sales can be found on the SEC website, accessible via their online platform.
Moving on to stock performance, shares of Lowe’s Companies, Inc. traded at $218.75 during midday trading on Monday, September 18th. Within that period, a total of 535,348 shares of the company were exchanged in comparison to its average volume of 2,817,030 shares. Lowe’s Companies’ stock has experienced a significant range over the past fifty-two weeks—falling as low as $176.50 and reaching a high of $237.21. Presently, it maintains a fifty-day simple moving average of $227.93 and a two-hundred day simple moving average of $213.68.
With regard to market capitalization, Lowe’s Companies holds an impressive value of $126.24 billion—an indicator of its significant presence within the industry. Additionally, it boasts a price-to-earnings (P/E) ratio of 21.60 along with a P/E/growth (PEG) ratio of 1.50—a figure highlighting its potential for growth relative to its current valuation in relation to earnings and future prospects.
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In conclusion,&In conclusion,C_rg,:utaversalithe success after bagnisont?pvers-investment from hedge funds and institutional investors d,to obtain firm399m a0tc-shares lowfLow,e’s Companies. The company continues to attract widespread interest, as evidenced by the recent growth in stakes from Missouri Trust & Investment Co, Key Client Fiduciary Advisors LLC, Legacy Financial Advisors Inc., Summit X LLC, and Transform Wealth LLC. Furthermore, significant insider sales of Lowe’s Companies stock have been witnessed lately by executive vice presidents Janice Dupre and Joseph Michael Mcfarland.
It will be intriguing to observe how these developments impact the future performance of Lowe’s Companies’ stock, considering factors such as its market capitalization, P/E ratio, PEG ratio, and beta. As the industry landscape evolves, investors will undoubtedly keep a close watch on Lowe’s Companies and its ability to navigate these changes proficiently.
