MORRISVILLE, N.C. – Vance Conta De, executive vice president of professional and home services at Lowe’s Companies Inc., has sold his company. (NYSE:), recently acquired 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, for a total of approximately $1.97 million. InvestingPro Analysis indicates that 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 directly owned.
The sale was executed at multiple prices ranging from $274.31 to $274.50 per share, with the announced price reflecting a weighted average. The option, which was exercised, was granted in three annual installments beginning on April 1, 2021.
In other recent news, Lowe’s Companies Inc. announced reported strong third-quarter earnings, beating Goldman Sachs and consensus estimates with 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, in line with current Street estimates. Following these results, several financial companies, including Truist Securities, Mizuho (NYSE:), and RBC Capital Markets, adjusted their price targets for Lowe’s. Truist Securities raised its price target to $310, citing single-digit comparable sales in the professional contractors sector and increased sales related to storm recovery efforts. Mizuho maintained an Outperform rating on Lowe’s, subtly increasing its price target to $282. RBC Capital Markets slightly increased its price target for Lowe’s to $291.
Piper Sandler reiterated an Overweight rating on Lowe’s, with a firm price target of $307. Meanwhile, TD Cowen maintained a Hold rating on Lowe’s with a firm price target of $290.00, highlighting the company’s strong single-digit growth in its professional customer segment and increased risks to fiscal 2025 comparable sales due to the challenging macroeconomic environment.
These are the latest developments for Lowe’s, reflecting the generally positive outlook for the company among various analyst firms.
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