Shell Asset Management Co. Has $6.13 Million Stock Position in Lowe’s Companies, Inc. $LOW

Shell Asset Management Co. grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 100.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,608 shares of the home improvement retailer’s stock after buying an additional 13,855 shares during the quarter. Shell Asset Management Co.’s holdings in Lowe’s Companies were worth $6,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC bought a new position in Lowe’s Companies in the 1st quarter valued at approximately $681,215,000. Pacer Advisors Inc. grew its position in shares of Lowe’s Companies by 2,984.6% in the 1st quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock valued at $475,339,000 after buying an additional 1,971,996 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Lowe’s Companies by 1,048.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer’s stock valued at $172,527,000 after purchasing an additional 675,318 shares during the period. Wellington Management Group LLP increased its position in shares of Lowe’s Companies by 49.0% during the first quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer’s stock worth $438,751,000 after buying an additional 618,775 shares during the period. Finally, Invesco Ltd. raised its position in shares of Lowe’s Companies by 10.6% in the 1st quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer’s stock worth $1,214,448,000 after acquiring an additional 501,154 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Brandon J. Sink sold 8,192 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $268.58, for a total value of $2,200,207.36. Following the transaction, the executive vice president directly owned 21,603 shares in the company, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the sale, the chief executive officer owned 249,043 shares of the company’s stock, valued at approximately $65,772,256.30. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,931 shares of company stock worth $24,945,752. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LOW shares. JPMorgan Chase & Co. boosted their target price on shares of Lowe’s Companies from $280.00 to $283.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Wells Fargo & Company raised their target price on Lowe’s Companies from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Mizuho boosted their price target on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. KeyCorp raised their target price on Lowe’s Companies from $266.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Finally, Wall Street Zen raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday. Seventeen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average target price of $285.50.

Lowe’s Companies Stock Down 1.9%

LOW stock opened at $241.67 on Tuesday. The stock has a 50-day simple moving average of $254.18 and a two-hundred day simple moving average of $234.30. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The firm has a market capitalization of $135.54 billion, a PE ratio of 19.86, a PEG ratio of 2.28 and a beta of 0.88.

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 analysts’ consensus estimates of $4.24 by $0.09. The company had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. Lowe’s Companies’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $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 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. Lowe’s Companies’s dividend payout ratio is presently 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.