Voleon Capital Management LP Has $5.81 Million Stock Position in Lowe’s Companies, Inc. $LOW

Voleon Capital Management LP increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 282.9% during the first quarter, Holdings Channel.com reports. The fund owned 24,906 shares of the home improvement retailer’s stock after buying an additional 18,402 shares during the period. Voleon Capital Management LP’s holdings in Lowe’s Companies were worth $5,809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOW. Brighton Jones LLC lifted its stake in shares of Lowe’s Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after acquiring an additional 17,413 shares during the period. Revolve Wealth Partners LLC lifted its stake in Lowe’s Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after buying an additional 259 shares during the period. Focus Partners Wealth lifted its stake in Lowe’s Companies by 7.0% in the fourth quarter. Focus Partners Wealth now owns 263,811 shares of the home improvement retailer’s stock valued at $65,429,000 after buying an additional 17,329 shares during the period. KKM Financial LLC acquired a new position in Lowe’s Companies in the fourth quarter valued at approximately $393,000. Finally, Janus Henderson Group PLC lifted its stake in Lowe’s Companies by 0.4% in the fourth quarter. Janus Henderson Group PLC now owns 82,024 shares of the home improvement retailer’s stock valued at $20,261,000 after buying an additional 300 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 40,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the sale, the chief executive officer owned 249,043 shares in the company, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Juliette Williams Pryor sold 929 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the sale, the executive vice president owned 30,099 shares of the company’s stock, valued at $7,741,462.80. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on LOW shares. Guggenheim reissued a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a research note on Thursday, August 21st. Stifel Nicolaus boosted their price target on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Monday, August 18th. Piper Sandler boosted their price target on Lowe’s Companies from $269.00 to $294.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Sanford C. Bernstein boosted their price target on Lowe’s Companies from $266.00 to $279.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Finally, Truist Financial boosted their price target on Lowe’s Companies from $264.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $284.13.

Lowe’s Companies Stock Up 2.1%

NYSE LOW opened at $270.00 on Monday. The company has a market cap of $151.42 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.50 and a beta of 0.87. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The business has a 50 day moving average price of $238.85 and a 200-day moving average price of $230.63.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, beating the consensus estimate of $4.24 by $0.09. The firm had revenue of $23.96 billion during the quarter, compared to the consensus estimate of $23.99 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be issued a dividend of $0.012 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $0.05 annualized dividend and a dividend yield of 0.0%. Lowe’s Companies’s payout ratio is currently 39.44%.

About Lowe’s Companies

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.