Mooresville, NC—Vance Quonta D, the Executive Vice President of Pro & Home Services at Lowe's Companies Inc. (NYSE:LOW), recently sold a significant portion of the company's stock. According to a recent SEC filing, Quonta sold 7,198 shares of Lowe's common stock on November 27, 2024, at an average price of $274.37, totaling approximately $1.97 million. InvestingPro analysis indicates the stock is currently trading slightly above its Fair Value, with a GOOD overall financial health rating.
In a related transaction on the same day, Quonta also exercised stock options to acquire 7,198 shares at a price of $80.42 per share. These transactions left Quonta with a total of 16,703 shares owned directly.
The sale was executed at multiple prices ranging from $274.31 to $274.50 per share, with the reported price reflecting the weighted average. The option, which was exercised, vested in three annual installments beginning on April 1, 2021.
In other recent news, Lowe's Companies Inc. reported robust third-quarter earnings, surpassing both Goldman Sachs and consensus estimates with an adjusted earnings per share (EPS) of $2.89. The company also updated its 2024 EPS guidance to a range of $11.80 to $11.90, aligning with current street estimates. Following these results, several financial firms, including Truist Securities, Mizuho (NYSE:MFG), and RBC Capital Markets, adjusted their price targets for Lowe's. Truist Securities raised its price target to $310, citing high-single-digit comparable sales in the professional contractor segment and a lift from sales related to storm recovery efforts. Mizuho maintained an Outperform rating on Lowe's, subtly increasing the price target to $282. RBC Capital Markets slightly increased its price target for Lowe's to $291.
Piper Sandler confirmed its Overweight rating on Lowe's, with a steady price target of $307. Meanwhile, TD Cowen sustained its Hold rating on Lowe's with a steady price target of $290.00, highlighting the company's robust high-single-digit growth in its professional customer segment and the increased risk to financial year 2025 comparable sales due to the challenging macroeconomic environment.
These are the recent developments for Lowe's, reflecting a generally positive outlook for the company among various analyst firms.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.